Changes-in-Changes and the Korea Household Income and Expenditure Survey
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As an official quarterly survey, the Korea Household Income and Expenditure Survey (KHIES) can provide timely information on household income and consumption expenditure to researchers and policy makers. Therefore, several studies have examined the KHIES to investigate the effect of the COVID-19 pandemic and fiscal measures using a difference-in-differences (DD) model. However, the KHIES dataset has a limitation to interpret the result since it is difficult to evaluate the parallel trends assumption, which is a key assumption of a DD regression, related to its redesign in 2017, 2018, and 2019, respectively. In this regard, this study introduces the changes-in-changes as an alternative research design.
Abstract
As an official quarterly survey, the Korea Household Income and Expenditure Survey (KHIES) can provide timely information on household income and consumption expenditure to researchers and policy makers. Therefore, several studies have examined the KHIES to investigate the effect of the COVID-19 pandemic and fiscal measures using a difference-in-differences (DD) model. However, the KHIES dataset has a limitation to interpret the result since it is difficult to evaluate the parallel trends assumption, which is a key assumption of a DD regression, related to its redesign in 2017, 2018, and 2019, respectively. In this regard, this study introduces the changes-in-changes as an alternative research design.
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