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- Title
A Speculative Explanation for Demand Persistence in the Post-Pandemic Period.
- Authors
Thosar, Satish
- Abstract
This research note explores the puzzle of why demand-side pressures remained high in the United States in late 2022 through 2023, even after fiscal stimulus measures had tapered off. The author speculates that a shift in societal time preference, where people began to prioritize present consumption over saving for the future, may explain this persistence in demand. The hypothesis is supported by a drop in expected life expectancy in the U.S. and changes in consumption patterns. The note concludes by suggesting further empirical research on this topic and exploring similar shifts in societal time preference in response to other significant events.
- Subjects
BOARD of Governors of the Federal Reserve System (U.S.); UNIVERSITY of Redlands; CONSUMER behavior; REAL wages; CONSUMPTION (Economics); ECONOMIC impact; ECONOMIC research; CHILD tax credits
- Publication
International Advances in Economic Research, 2024, Vol 30, Issue 1, p111
- ISSN
1083-0898
- Publication type
Article
- DOI
10.1007/s11294-024-09890-5