Expenditure Responses to the COVID-19 Pandemic

Junichi Kikuchi, Ryoya Nagao and Yoshiyuki Nakazono

No 31, TUPD Discussion Papers from Graduate School of Economics and Management, Tohoku University

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).

Pages: 24 pages
Date: 2022-12
New Economics Papers: this item is included in nep-age and nep-hea
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http://hdl.handle.net/10097/00136608

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Journal Article: Expenditure responses to the COVID-19 pandemic (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:toh:tupdaa:31

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