Effects of COVID-19 on income, consumption and savings: Evidence from the Luxembourg Household Finance and Consumption Survey

Thomas Mathä, Ana Montes-Vinas (), Giuseppe Pulina and Michael Ziegelmeyer

BCL Bulletin Analyses, 2023, vol. 2023-2, 50-59

Abstract: We examine the impact of the COVID-19 pandemic on household income, consumption and savings in Luxembourg, revealing substantial heterogeneity across income and wealth distributions. More specifically, poorer households were more likely to experience negative effects than households with higher income or wealth. In particular, poorer households were more likely to report a decline in income and in savings.

Keywords: Households; survey; COVID-19; income; consumption; savings (search for similar items in EconPapers)
JEL-codes: D14 D31 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:bcl:bclban:bclanalyse20232a3

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