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 significantly heterogeneous across generations. We find...

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 elderly spend less than the younger generation by...

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 elderly spend less than the younger generation by...

This study examines the macroeconomic effects of unconventional monetary policy in Japan. We apply the new identification strategy proposed by Bu et al. (2021; JME) to the Japanese case and show the macroeconomic effects of unconventional monetary policy; a contractionary monetary policy shock...