Consumption and Income Expectations during Covid-19

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

CSEF Working Papers from Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy

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 fear of contagion among others) 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 aggregate GDP growth are strongly related to consumption expectations; income risk is positively associated with expected consumption growth for richer households, confirming the presence of a precautionary saving motive.

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: 2022-06-17
New Economics Papers: this item is included in nep-dem, nep-eur and nep-mac
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Related works:
Journal Article: Consumption and income expectations during Covid-19 (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:sef:csefwp:647

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