Expenditure responses to the COVID-19 pandemic

Junichi Kikuchi, Ryoya Nagao and Yoshiyuki Nakazono

Japan and the World Economy, 2023, vol. 65, issue C

Abstract: We examine how the COVID-19 contagion influences consumer expenditure patterns. We show that the consumption expenditure responses to the spread of the COVID-19 pandemic are significantly different between the older and younger generations. We find that older adults spend less than the younger generation by at least 5% during the pandemic. In fact, those aged above 60 significantly decrease their spending even on food and drink products by 13%. We also find that older adults forgo shopping in favor of the younger generation. These responses might be due to the fear of COVID-19 infection (Immordino et al., 2022).

Keywords: COVID-19; Consumption gap; Expenditure; Spending behavior (search for similar items in EconPapers)
JEL-codes: D12 E21 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Working Paper: Expenditure Responses to the COVID-19 Pandemic (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:japwor:v:65:y:2023:i:c:s0922142522000597

DOI: 10.1016/j.japwor.2022.101174

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