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

Abstract

for comments and suggestions. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the view of the Bank of Canada or the European Central Bank.

The risks of exiting too early the policy responses to the COVID-19 recession

“…That crisis was primarily triggered by a real estate boom that was both cause and effect of massive credit misallocation. There is an important caveat here because this argument fully applies only to the extent that the world goes back to pre-pandemic normal; however, the COVID-19 shock might be a game-changer for the consumption of certain services (Hodbod, Hommes, Huber, & Salle, 2020).…”