HOUSEHOLD BEHAVIOUR UNDER RATIONING

John Fitzgerald; Seán Kenny; Alexandra L. Cermeño

doi:10.1017/nie.2022.19

HOUSEHOLD BEHAVIOUR UNDER RATIONING

John Fitzgerald
, Seán Kenny
, Alexandra L. Cermeño

Trinity College Dublin
Lund University

Research output: Contribution to journal › Article › peer-review

Abstract

The pandemic-induced economic crisis has seen a massive increase in savings as households could not spend their income. The last time that consumers were seriously rationed was during the Second World War. This article models the behaviour of households during the War years and its immediate aftermath in Ireland, Sweden, the US and UK. Savings were held in liquid form and, once the War was over and rationing eased, a consumption boom transpired. However, significant excess savings were converted into physical assets in the housing market. There is evidence that this pattern is being repeated as the Covid-19 crisis eases.

Original language	English
Pages (from-to)	6-26
Number of pages	21
Journal	National Institute Economic Review
Volume	263
DOIs	https://doi.org/10.1017/nie.2022.19
Publication status	Published - 18 Aug 2023
Externally published	Yes

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 11 Sustainable Cities and Communities

Keywords

consumer behaviour
economic history
rationing

Access to Document

10.1017/nie.2022.19

Cite this

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title = "HOUSEHOLD BEHAVIOUR UNDER RATIONING",

abstract = "The pandemic-induced economic crisis has seen a massive increase in savings as households could not spend their income. The last time that consumers were seriously rationed was during the Second World War. This article models the behaviour of households during the War years and its immediate aftermath in Ireland, Sweden, the US and UK. Savings were held in liquid form and, once the War was over and rationing eased, a consumption boom transpired. However, significant excess savings were converted into physical assets in the housing market. There is evidence that this pattern is being repeated as the Covid-19 crisis eases.",

keywords = "consumer behaviour, economic history, rationing",

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year = "2023",

month = aug,

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doi = "10.1017/nie.2022.19",

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AU - Kenny, Seán

AU - Cermeño, Alexandra L.

N1 - Publisher Copyright: © The Author(s), 2022.

PY - 2023/8/18

Y1 - 2023/8/18

N2 - The pandemic-induced economic crisis has seen a massive increase in savings as households could not spend their income. The last time that consumers were seriously rationed was during the Second World War. This article models the behaviour of households during the War years and its immediate aftermath in Ireland, Sweden, the US and UK. Savings were held in liquid form and, once the War was over and rationing eased, a consumption boom transpired. However, significant excess savings were converted into physical assets in the housing market. There is evidence that this pattern is being repeated as the Covid-19 crisis eases.

AB - The pandemic-induced economic crisis has seen a massive increase in savings as households could not spend their income. The last time that consumers were seriously rationed was during the Second World War. This article models the behaviour of households during the War years and its immediate aftermath in Ireland, Sweden, the US and UK. Savings were held in liquid form and, once the War was over and rationing eased, a consumption boom transpired. However, significant excess savings were converted into physical assets in the housing market. There is evidence that this pattern is being repeated as the Covid-19 crisis eases.

KW - consumer behaviour

KW - economic history

KW - rationing

UR - https://www.scopus.com/pages/publications/85177997500

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DO - 10.1017/nie.2022.19

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SP - 6

EP - 26

JO - National Institute Economic Review

JF - National Institute Economic Review

ER -

HOUSEHOLD BEHAVIOUR UNDER RATIONING

Abstract

UN SDGs

Keywords

Access to Document

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