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Why Has Consumption Been So Volatile in the New Millennium?

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Listed:
  • Yuliya Demyanyk
  • Dmytro Hryshko
  • Daniel Kolliner
  • Bent E. Sorensen

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

Suggested Citation

  • Yuliya Demyanyk & Dmytro Hryshko & Daniel Kolliner & Bent E. Sorensen, 2015. "Why Has Consumption Been So Volatile in the New Millennium?," Economic Commentary, Federal Reserve Bank of Cleveland, issue July.
    • Handle: RePEc:fip:fedcec:00038
    DOI: 10.26509/frbc-ec-201509
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