We study how household concerns about their future financial situation may affect the marginal propensity to consume (MPC) during the COVID-19 pandemic. We use a representative survey of UK households to compute the MPC from a hypothetical transfer of £500. Our main finding points to a key role...

COVID-19 pandemic has created havoc around the globe since it first started infecting humans in December 2019. It has not only created a significant health and economic crisis for the world but also caused unusual individual behaviours such as panic buying all around the world. At the outset,...

This paper explores whether and why the pandemic differentially altered women and men's consumption behavior. After the 2020 wave of lockdown restrictions were lifted, women reduced consumption more than men. Data on self-reported reasons for consuming less reveals that gender differences in...

We live in a moment of interconnected pandemics. The COVID-19 crisis provides a window into the underlying pandemics of inequality, economic insecurity, and injustice. The viruses of sexism, racism, and economic instability are the pre-existing conditions of an unjust legal system — baked into...

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....

We use U.S. household-level bank account data to investigate the heterogeneous effects of the pandemic on spending and savings. Households across the income distribution all cut spending from March to early April. Since mid April, spending has rebounded most rapidly for low-income households. We...