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Household Behaviour under rationing

Fitzgerald, John ; Kenny, Seán LU and Cermeño, Alexandra L. LU orcid (2023) In National Institute Economic Review 263. p.6-26
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.
Please use this url to cite or link to this publication:
author
; and
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
rationing, consumer behaviour, economic history, D12, D14, N12, N14, N30
in
National Institute Economic Review
volume
263
pages
21 pages
publisher
Cambridge University Press
external identifiers
  • scopus:85177997500
ISSN
0027-9501
DOI
10.1017/nie.2022.19
language
English
LU publication?
yes
id
631a606a-02bc-4fa2-9c93-e69eb0f1a224
date added to LUP
2023-02-27 14:32:05
date last changed
2024-01-05 10:39:15
@article{631a606a-02bc-4fa2-9c93-e69eb0f1a224,
  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.}},
  author       = {{Fitzgerald, John and Kenny, Seán and Cermeño, Alexandra L.}},
  issn         = {{0027-9501}},
  keywords     = {{rationing; consumer behaviour; economic history; D12; D14; N12; N14; N30}},
  language     = {{eng}},
  month        = {{08}},
  pages        = {{6--26}},
  publisher    = {{Cambridge University Press}},
  series       = {{National Institute Economic Review}},
  title        = {{Household Behaviour under rationing}},
  url          = {{http://dx.doi.org/10.1017/nie.2022.19}},
  doi          = {{10.1017/nie.2022.19}},
  volume       = {{263}},
  year         = {{2023}},
}