The COVID-19 Consumption Game-Changer: Evidence from a Large-Scale Multi-Country Survey

Alexander Hodbod, Cars Hommes, Stefanie J. Huber & isabelle salle
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 had a sustained impact on consumer confidence, preferences, and hence, spending. The elongated and profound experience of the COVID-19 crisis may durably affect consumer preferences. We conducted a representative consumer survey in five European countries in summer 2020 after the release of the first wave’s lockdown...
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