Tag: household spending
The brief’s key findings are: The COVID recession brought the economy to a halt, but households got robust government support and asset markets soared during 2020-2021. Overall, balance sheets showed some improvements during this period: high-wealth households saw rapid asset growth from the booming markets; and those in the middle got market gains and a boost from…
Abstract This study explores how the COVID-19 pandemic affected the finances of vulnerable households, as well as those with more resources. On one hand, the shutdown of the economy resulted in salary cuts and job losses that put pressure on many households, leaving them even less prepared for small expenditure shocks. On the other hand,…
