Consumers and COVID-19: A Real-Time Survey

Knotek, Edward S.; Schoenle, Raphael; Dietrich, Alexander; Kuester, Keith; Müller, Gernot; Myrseth, Kristian Ove R.; Weber, Michael

doi:10.26509/frbc-ec-202008

Cited by 44 publications

(45 citation statements)

References 14 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Our survey questions on mask usage were a module within a larger project that focuses on the beliefs of individual US consumers, following Dietrich et al (2020) and Knotek et al (2020). The survey is administered on the Qualtrics Research Core Platform, and Qualtrics Research Services recruits a nationally representative sample of participants to provide responses.…”

Section: Survey Designmentioning

confidence: 99%

“…Many of our questions asked respondents to select an answer from a limited set of options. Knotek et al (2020) discuss some of the other questions in the survey, which are used to provide ongoing updates to the Consumers and COVID-19 section on the Cleveland Fed's website. Table 1 compactly summarizes most of the survey questions and the associated percentage of respondents who selected a particular answer to those questions.…”

Section: Survey Designmentioning

confidence: 99%

See 1 more Smart Citation

Consumers and COVID-19: Survey Results on Mask-Wearing Behaviors and Beliefs

et al. 2020

Self Cite

View full text Add to dashboard Cite

Masks or cloth face coverings have the potential to help reduce the spread of COVID-19 without greatly disrupting economic activity if they are widely used. To assess the state of mask wearing, we surveyed US consumers about their recent and prospective mask-wearing behavior. We find that most respondents are wearing masks in public but that some respondents are less likely to follow social-distancing guidelines while doing so, indicating a potential tradeoff between two of the recommended methods that jointly reduce coronavirus transmission. While most respondents indicated that they were extremely likely to wear a mask if required by public authorities, the reported likelihood is strongly dependent on age and perceived mask efficacy.

show abstract

Section: Survey Designmentioning

confidence: 99%

Section: Survey Designmentioning

confidence: 99%

Consumers and COVID-19: Survey Results on Mask-Wearing Behaviors and Beliefs

et al. 2020

Self Cite

View full text Add to dashboard Cite

show abstract

“…Thus, we need more research in this area to attain a complete understanding of the household behavioral response to rare events. Dietrich et al (2020) and Knotek et al (2020) present the results of a real-time survey conducted by Dietrich et al (2020) of American households to inform policymakers and researchers about consumers' beliefs during the COVID-19 outbreak. Although they make significant contributions to the literature by presenting results from the U.S., our study contributes to the literature by presenting results from China, where the outbreak initiated.…”

Section: Introductionmentioning

confidence: 99%

“…Namely, the survey used in this study has detailed information on Chinese households, and we are able to merge this data with the latest data from the China Household Finance Survey conducted in 2019 to perform a more in-depth analysis. Additionally, Dietrich et al (2020) and Knotek et al (2020) posit that the extent of the outbreak was not clear in the U.S. when the survey began because there were only about 1,000 confirmed cases. But according to the Johns Hopkins University & Medicine Coronavirus Resource Center, there were 44,759 confirmed cases in China when the survey began.…”

Section: Introductionmentioning

confidence: 99%

Household Financial Decision Making Amidst the COVID-19 Pandemic

Yue

Korkmaz

Zhou

2020

Emerging Markets Finance and Trade

126

View full text Add to dashboard Cite

This paper investigates the impact of the COVID-19 pandemic on household investment decisions using a novel survey conducted by the Survey and Research Center for China Household Finance. We use linear probability and probit models to analyze the effects of COVID-19 at the household level. Our results show that households who know someone infected with COVID-19 lose confidence in the economy. They are more likely to change their risk behavior and become risk-averse. Further, COVID-19 increases the probability that a household will change its investment portfolio. More specifically, it causes a 9.15% decrease in the total investment amount.

show abstract

“…Suggested citation: Coibion, Olivier, Yuriy Gorodnichenko, Edward S. Knotek II, and Raphael Schoenle. 2020.…”

mentioning

confidence: 99%

Average Inflation Targeting and Household Expectations

Coibion

Gorodnichenko

Knotek

et al. 2020

Working Paper (Federal Reserve Bank of Cleveland)

Self Cite

View full text Add to dashboard Cite

Using a daily survey of U.S. households, we study how the Federal Reserve's announcement of its new strategy of average inflation targeting affected households' expectations. Starting with the day of the announcement, there is a very small uptick in the minority of households reporting that they had heard news about monetary policy relative to prior to the announcement, but this effect fades within a few days. Those hearing news about the announcement do not seem to have understood the announcement: they are no more likely to correctly identify the Fed's new strategy than others, nor are their expectations different. When we provide randomly selected households with pertinent information about average inflation targeting, their expectations still do not change in a different way than when households are provided with information about traditional inflation targeting. JEL classification codes: E3, E4, E5.

show abstract

Consumers and COVID-19: A Real-Time Survey

Cited by 44 publications

References 14 publications

Consumers and COVID-19: Survey Results on Mask-Wearing Behaviors and Beliefs

Consumers and COVID-19: Survey Results on Mask-Wearing Behaviors and Beliefs

Household Financial Decision Making Amidst the COVID-19 Pandemic

Average Inflation Targeting and Household Expectations

Contact Info

Product

Resources

About