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The Impact of an Epidemic Outbreak on Consumer Expenditures:An Empirical Assessment for MERS Korea

College of Business Administration, Hongik University, 94 Wausan-ro, Mapo-gu, Seoul 121-791, Korea
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Academic Editor: Giuseppe Ioppolo
Sustainability 2016, 8(5), 454; https://doi.org/10.3390/su8050454
Received: 3 February 2016 / Revised: 20 April 2016 / Accepted: 20 April 2016 / Published: 6 May 2016
(This article belongs to the Section Economic, Business and Management Aspects of Sustainability)
In this paper, we investigate the effect of an epidemic outbreak on consumer expenditures. In light of scanner panel data on consumers’ debit and credit card transactions, we present empirical evidence that outbreaks cause considerable disruption in total consumer expenditures with significant heterogeneity across categories. Our findings strongly imply that customers alter their behaviors to reduce the risk of infection. The estimated effect of an epidemic outbreak is qualitatively different from that of other macroeconomic factors. The implications of this research provide important guidance for policy interventions and marketing decisions aimed at sustaining economic growth. View Full-Text
Keywords: epidemic outbreak; sustainable growth; consumption expenditures; channel distribution epidemic outbreak; sustainable growth; consumption expenditures; channel distribution
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Jung, H.; Park, M.; Hong, K.; Hyun, E. The Impact of an Epidemic Outbreak on Consumer Expenditures:An Empirical Assessment for MERS Korea. Sustainability 2016, 8, 454.

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