Pandemic Consumption

Ruediger Bachmann, Christian Bayer and Martin Kornejew

No 10397, CESifo Working Paper Series from CESifo

Abstract: This paper examines how households adjusted their consumption behavior in response to COVID-19 infection risk during the early phase of the pandemic. We use a monthly consumption survey specifically designed by the German Statistical Office covering the second wave of COVID-19 infections from September to November 2020. Households reduced their consumption expenditures on durables and social activities by, respectively, 24 percent and 36 percent in response to one hundred extra infections per one hundred thousand inhabitants per week. The effect was concentrated among the elderly, whose mortality risk from COVID-19 infection was arguably the highest.

Keywords: consumption; health risk; pandemic; COVID-19; survey data (search for similar items in EconPapers)
JEL-codes: D12 E21 E32 I12 (search for similar items in EconPapers)
Date: 2023
New Economics Papers: this item is included in nep-hea
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Related works:
Working Paper: Pandemic Consumption (2023)
Working Paper: Pandemic Consumption (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_10397

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