Pandemic Consumption

Bachmann, Rüdiger, Christian Bayer and Martin Kornejew

No 18120, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: This paper examines how households adjusted their consumption behavior in response to the COVID-19 infection risk during the early phase of the pandemic and without consumption lockdowns. 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 durable goods and social activities by 24 percent and 36 percent, respectively, in response to one hundred additional 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: COVID-19 (search for similar items in EconPapers)
JEL-codes: D12 E21 E32 I12 (search for similar items in EconPapers)
Date: 2023-04
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Related works:
Journal Article: Pandemic consumption (2025)
Working Paper: Pandemic Consumption (2023)
Working Paper: Pandemic Consumption (2023)
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