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Fear of Covid-19 contagion : the idiosyncratic effects of an aggregate pandemic shock
Kikuchi, Junichi; Nagao, Ryoya; Nakazono, Yoshiyuki - 2021
We examine how the fear of COVID-19 contagion influences consumer expenditure patterns. We show that the consumption … expenditure responses to the spread of the COVID-19 pandemic are significantly heterogeneous across generations. We find that the … younger generation. These heterogeneous responses are likely to be due to the fear of the COVID-19 infection. …
Persistent link: https://www.econbiz.de/10012665540
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Fear of COVID-19 Contagion : The Idiosyncratic Effects of an Aggregate Pandemic Shock
Kikuchi, Junichi; Nagao, Ryoya; Nakazono, Yoshiyuki - 2021
Using a survey on consumer expenditure in Japan, this study examines how the fear of COVID-19 contagion influences … consumer expenditure patterns. We show that the consumption expenditure responses to the spread of the COVID-19 pandemic are … to be due to the fear of the COVID-19 infection. The finding suggests that heterogeneous perceptions regarding the fear …
Persistent link: https://www.econbiz.de/10013221192
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The COVID-19 consumption game-changer : evidence from a large-scale multi-country survey
Hodbod, Alexander; Hommes, Cars H.; Huber, Stefanie J.; … - 2021
Prospective economic developments depend on the behavior of consumer spending. A key question is whether private expenditures recover once social distancing restrictions are lifted or whether the COVID-19 crisis has a sustained impact on consumer confidence, preferences, and, hence, spending....
Persistent link: https://www.econbiz.de/10012643267
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The COVID-19 consumption game-changer : evidence from a large-scale multi-country survey
Hodbod, Alexander; Hommes, Cars H.; Huber, Stefanie J.; … - 2021 - Version: 2021-10-17
Prospective economic developments depend on the behavior of consumer spending. A key question is whether private expenditures recover once social distancing restrictions are lifted or whether the COVID-19 crisis has a sustained impact on consumer confidence, preferences, and, hence, spending....
Persistent link: https://www.econbiz.de/10012665880
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Fear of COVID-19 Contagion : The Idiosyncratic Effects of an Aggregate Pandemic Shock
Kikuchi, Junichi; Nagao, Ryoya; Nakazono, Yoshiyuki - 2021
We examine how the fear of COVID-19 contagion influences consumer expenditure patterns. We show that the consumption … expenditure responses to the spread of the COVID-19 pandemic are significantly heterogeneous across generations. We find that the … younger generation. These heterogeneous responses are likely to be due to the fear of the COVID-19 infection …
Persistent link: https://www.econbiz.de/10013322548
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The marginal propensity to consume and household savings during the COVID-19 pandemic : evidence from Thailand and Vietnam
Dzung Bui; Dräger, Lena; Hayo, Bernd; Giang Hong Nghiem - 2024
Using representative household surveys conducted in Thailand and Vietnam during the COVID-19 pandemic, we find that the marginal propensity to consume is signicantly larger for positive than for negative income shocks. Moreover, we discover that the savings position plays a crucial role, as the...
Persistent link: https://www.econbiz.de/10014485520
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Happiness and the persistence of income shocks
Bayer, Christian; Juessen, Falko - 2012
We reassess the empirical effect of income and employment on self-reported well-being. Our analysis makes use of a novel two-step estimation procedure that allows applying instrumental variable regressions with ordinal observable data. As suggested by the theory of incomplete markets, we...
Persistent link: https://www.econbiz.de/10009575109
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Income shocks or insurance : what determines consumption inequality?
Ludwig, Johannes - 2015
Contrary to the implications of economic theory, consumption inequality in the US did not react to the increases in income inequality during the last three decades. This paper investigates if a change in the type of income inequality - from permanent to transitory - or a change in the ability to...
Persistent link: https://www.econbiz.de/10010519133
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Happiness and the persistence of income shocks : conference paper
Bayer, Christian; Jüßen, Falko - 2013 - This version: March 1, 2013
We reassess the empirical effects of income and employment on self-reported well-being. Our analysis makes use of a two-step estimation procedure that allows applying instrumental variable regressions with ordinal observable data. As suggested by the theory of incomplete markets, we...
Persistent link: https://www.econbiz.de/10010339956
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Is there heterogeneity in the response of consumption to income shocks?
Ludwig, Johannes - 2015
While recently more and more research has focused on the aggregate response of consumption to income shocks, little is known about how this response differs for households at different ends of the income distribution. This paper investigates how consumption reacts to transitory and permanent...
Persistent link: https://www.econbiz.de/10011404289