HOUSEHOLD BEHAVIOUR UNDER RATIONING

Abstract The pandemic-induced economic crisis has seen a massive increase in savings as households could not spend their income. last time that consumers were seriously rationed was during the Second World War. This article models behaviour of War years and its immediate aftermath Ireland, Sweden, US UK. Savings held liquid form and, once over rationing eased, consumption boom transpired. However, significant excess converted into physical assets housing market. There is evidence this pattern being repeated Covid-19 eases.