Here's how COVID-19 fiscal support has affected our spending behaviour

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COVID-19 affected individuals and households differently. Image: Unsplash/Towfiqu barbhuiya

Dimitris Georgarakos
Senior Economist, DG-Research, European Central Bank
Geoff Kenny
Head of the Monetary Economics Section, European Central Bank
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Graph showing different types of pandemic-related government support in 2020
Nearly 75% of respondents received no government support. Image: CES data collected in December 2020.

Graph showing perceived adequacy of government support in the euro area.
Those who received support perceived fiscal interventions to be more adequate. Image: CES

Who are the collaborating partners in this SGB Financing Initiative?

Graphic showing holiday purchases and perceived adequacy.
People who perceived fiscal interventions to be more adequate were more likely to purchase big-ticket items. Image: CES
Graphic showing car purchases and perceived adequacy
The adequacy of fiscal support has a positive causal effect on spending. Image: CES
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COVID-19Pandemic Preparedness and ResponseSocial Protection
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