Aggregate consumption and debt accumulation: An empirical examination of US household behavior

Aggregate consumption and debt accumulation: An empirical examination of US household behavior

The outbreak of the financial crisis in 2008 witnessed a significant contraction in US consumption spending, as households began deleveraging following a period marked by historically high levels of household borrowing. These events call into question the canonical life-cycle theory of consumption,...

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Bibliographic Details
Main Authors: KIM, Yun K., SETTERFIELD, Mark, MEI, Yuan
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2015
Subjects:
Consumption
Household borrowing
Household debt
Life-cycle hypothesis
Relative income hypothesis
Behavioral Economics
Macroeconomics
Online Access:https://ink.library.smu.edu.sg/soe_research/2184
https://ink.library.smu.edu.sg/context/soe_research/article/3183/viewcontent/Aggregate_consumption_and_debt_accumulation_afv.pdf
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Institution: Singapore Management University
Language: English

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https://ink.library.smu.edu.sg/soe_research/2184
https://ink.library.smu.edu.sg/context/soe_research/article/3183/viewcontent/Aggregate_consumption_and_debt_accumulation_afv.pdf

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