Journal Article

Why Has Consumption Been So Volatile in the New Millennium?


Abstract: U.S. consumption has gone through steep ups and downs since the turn of the millennium, but the causes of these fluctuations are still imperfectly identified. We describe research that quantifies the relative impact of nine significant determinants of consumption growth. The explanatory power of these factors varies by period, implying that successful modelling of this decade poses many challenges

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Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Commentary

Publication Date: 2015

Issue: July

Order Number: 9