COVID-19, Vaccination, and Consumer Behavior

Author Name MORIKAWA Masayuki (President, RIETI)
Creation Date/NO. August 2021 21-J-042
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With the continued spread of COVID-19, vaccination represents one avenue towards a recovery in household consumption. However, there is high uncertainty regarding the effectiveness of vaccination in terms of restoring economic activity. This paper, based on an original survey for individuals in July 2021, presents some evidence on the relationship between vaccination and consumer behavior. According to the results, first, a large number of respondents intend to increase their consumption after the end of the pandemic, but not so many respondents will increase their consumption after finishing their vaccination. Second, female, high-income earners, and those who used last year's GoTo campaign tend to exhibit somewhat higher intention to increase consumption after vaccination. No clear association with health status or subjective risk of infection has been detected.

The English version of this paper is 21-E-079.