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Author:McMain, Micheal 

Journal Article
Expected Post-Pandemic Consumption and Scarred Expectations from COVID-19

The COVID-19 vaccination drive raises questions about the trajectory of the economic recovery and the pandemic’s impact on consumers’ longer-term behaviors. In this Commentary, we examine the evolution of consumers’ expectations for their post-crisis spending on services that have been dramatically curtailed by the pandemic: visiting restaurants, bars, and hotels, using public transportation, and attending crowded events. We document a U-shaped pattern of expected future use of these services, with growing pessimism in summer 2020 that had largely reversed by fall 2020—for most ...
Economic Commentary , Volume 2021 , Issue 11 , Pages 8

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