The Unusual Composition of Demand during the Pandemic

Aditya Aladangady and Daniel Garcia

No 2021-01-14, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: In most recessions, household spending on goods—particularly durables—and housing tends to fall sharply and remain weak for many quarters. In contrast, services spending has generally responded little to business cycles. This time, however, the opposite has occurred, as shown in Figure 1.

Date: 2021-01-14
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2021-01-14

DOI: 10.17016/2380-7172.2831

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