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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| Main Authors: | , , |
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2015
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| Subjects: | |
| 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 |