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How loss of income affects living standards

Can households maintain their standards of living when self-employed household members experience income cuts? Dr. Stefan Schneck analysed this question and placed the results in the context of the Covid 19-crisis. One central result: about half of the self-employed households can no longer maintain their standard of living if the self-employed income declines by 37%.

The article "Income loss among the self-employed: implications for individual wellbeing and pandemic policy measures" has been published in "Review of Economics of the Household".

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