| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12522 |
| DP12522 The Rise and Fall of Consumption in the '00s. A Tangled Tale. | |
| Bent E Sørensen; Dmytro Hryshko; Yuliya Demyanyk | |
| 发表日期 | 2017-12-20 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | U.S. consumption has gone through steep ups and downs since 2000. We quantify the statistical impact of income, unemployment, house prices, credit scores, debt, financial assets, expectations, foreclosures, and inequality on county-level consumption growth for four subperiods: the "dot-com recession'' (2001--2003), the "subprime boom'' (2004--2006), the Great Recession (2007--2009), and the "tepid recovery'' (2010--2012). Consumption growth cannot be explained by a few factors; rather, it depends on a large number of variables whose explanatory power varies by subperiod. Growth of income, growth of housing wealth, and fluctuations in unemployment are the most important determinants of consumption, significantly so in all subperiods, while fluctuations in financial assets and expectations are important only during some subperiods. Lagged variables, such as the share of subprime borrowers, are significant but less important. |
| 主题 | Monetary Economics and Fluctuations |
| URL | https://cepr.org/publications/dp12522 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541333 |
| 推荐引用方式 GB/T 7714 | Bent E Sørensen,Dmytro Hryshko,Yuliya Demyanyk. DP12522 The Rise and Fall of Consumption in the '00s. A Tangled Tale.. 2017. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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