The COVID-19 pandemic increased people’s propensity for precautionary savings in response to economic recession (e.g., Mody et al., 2012; Gropp and McShane, 2021; Levine et al., 2021). However, as the relevant vaccine roll-out continues, it mitigates people’s concerns and boosts the macroeconomy, which leads to significant declines in household precautionary saving motives. Consistent with this expectation, using U.S. county-level vaccination, deposit, economic, and demographic data, we show that there is a significant negative relationship between COVID-19 vaccination and household savings. We attribute this negative relationship to an economic recovery channel because our findings also suggest that the vaccination has a strong negative impact on the unemployment rate and results in increases in consumer spending. Overall, our study adds to an emerging strand of literature on how COVID-19 vaccination affects households’ financial behaviors.

COVID-19 大流行增加了人们为应对经济衰退而进行预防性储蓄的倾向（例如，Mody 等人，2012 年；Gropp 和 McShane，2021 年；Levine 等人，2021 年）。然而，随着相关疫苗的持续推广，缓解了人们的担忧并提振了宏观经济，导致家庭预防性储蓄动机显着下降。与这一预期一致，使用美国县级疫苗接种、存款、经济和人口统计数据，我们表明 COVID-19 疫苗接种与家庭储蓄之间存在显着的负相关关系。我们将这种负相关关系归因于经济复苏渠道，因为我们的研究结果还表明，疫苗接种对失业率有很强的负面影响，并导致消费者支出增加。全面的，