Valerio Ercolani, Elisa Guglielminetti, Concetta Rondinelli, 26 June 2021

The Covid-19 pandemic has seen a surge in household savings across the world. This column exploits information from the Bank of Italy’s Special Survey of Italian Households to break down recent saving patterns in Italy. It finds an increase in precautionary savings associated with factors such as higher job uncertainty and fears of a protracted pandemic. Additionally, it suggests that a lasting precautionary attitude could slow the decumulation of piled up savings, even as the pandemic slows down.

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