文献类型： 外文期刊
作者： Levine, Ross 1 ; Lin, Chen 2 ; Tai, Mingzhu 2 ; Xie, Wensi 3 ;
作者机构： 1.Univ Calif Berkeley, Haas Sch Business, Berkeley, CA 94720 USA
2.Univ Hong Kong, Fac Business & Econ, Hong Kong, Peoples R China
3.Chinese Univ HongKong, CUHK Business Sch, Hong Kong, Peoples R China
期刊名称：REVIEW OF FINANCIAL STUDIES （ 影响因子：8.2； 五年影响因子：9.7 ）
ISSN： 0893-9454
年卷期： 2021 年 34 卷 11 期
页码：
收录情况： SCI
摘要： Why did banks experience massive deposit inflows during the pandemic? We discover that deposit interest rates at bank branches in counties with higher COVID-19 infection rates fell by more than rates at branches-even branches of the same bank-in counties with lower infection rates. Credit drawdowns, national policies, such as the Payment Protection Program, and a flight-to-safety do not account for these cross-branch changes in deposit rates. Evidence suggests that higher local COVID-19 infection rates are associated with households' greater anxiety about future job and income losses, anxiety that induces households to reduce spending and increase deposits.
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