Consumption and income expectations during Covid-19

Giovanni Immordino, Tullio Jappelli () and Tommaso Oliviero ()

Review of Economics of the Household, 2024, vol. 22, issue 1, No 4, 95-116

Abstract: Abstract Using a survey of Italian households administered in November 2021, we study the effect of microeconomic and macroeconomic expectations about the health crisis and income growth on consumption expectations in 2022. The survey elicits individual-level indicators of income and consumption expectations, distinguishing between consumption at home, away from home, online and total. We find that expected household income and expected GDP growth are strongly related to consumption expectations; income risk is positively associated with expected consumption growth for richer households. Finally, our results indicate that health-related variables were not a major drivers of consumption expectations in 2022.

Keywords: Consumption Expectations; Income Expectations; Covid-19 Crisis (search for similar items in EconPapers)
JEL-codes: D14 D15 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s11150-023-09656-8

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