President Joe Biden’s executive order mandating masks in federal buildings should help slow the spread of the coronavirus, but it may be too limited to help the economy, CBS MoneyWatch reports.

The order, which requires that federal employees and contractors in federal buildings on federal land must wear a mask, is primarily intended to help stem the spread of the coronavirus, but a secondary hope was that it would help improve the economy. However, research from Washington University in St. Louis and the University of California Los Angeles suggests that the order is too limited to make a substantial economic impact.

"I am skeptical about whether this action covers enough workers to have a noticeable effect on the economy," said Raphael Thomadsen, who teaches marketing at Washington University in St. Louis and co-authored a study about a link between masks and consumer spending. "That said, any small effect is likely to be slightly positive."

Thomadsen continued, "We find that mask mandates do increase consumer spending by quite a bit: 5%, which is large as far as macroeconomic effects go. We find that they help out every sector of the economy that we can find, including accommodation and food services."

He added, "Bottom line: Mask mandates are good for the economy and boost spending quite a bit. They are only a small piece in managing this pandemic and economic recovery, but given the cheapness of the approach, and the significant positive benefits on spread and spending, they are a no-brainer as far as policy is involved."

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