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Expenditure Responses to the COVID-19 Pandemic

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  • Junichi Kikuchi
  • Ryoya Nagao
  • Yoshiyuki Nakazono

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).

Suggested Citation

  • Junichi Kikuchi & Ryoya Nagao & Yoshiyuki Nakazono, 2022. "Expenditure Responses to the COVID-19 Pandemic," TUPD Discussion Papers 31, Graduate School of Economics and Management, Tohoku University.
    • Handle: RePEc:toh:tupdaa:31
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    File URL: http://hdl.handle.net/10097/00136608
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    1. František Synák, 2023. "Problems and Opportunities within the Wine Industry in Terms of the COVID-19 Pandemic," Agriculture, MDPI, vol. 13(3), pages 1-20, March.

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    More about this item

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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