IDEAS home Printed from https://ideas.repec.org/a/ksp/journ5/v2y2015i4p321-328.html
   My bibliography  Save this article

Private Consumption in Sweden and Finland Before, During and After the Global Financial Crisis

Author

Listed:
  • John Magnus ROOS

    (University of Gothenburg, Sweden.)

Abstract

This study describes private consumption in Sweden and Finland before, during and after the Global Financial crisis. During eleven years, from 2004 to 2013, we investigate how the total household consumption expenditures have developed and how households have allocated their consumption budgets on various consumption categories in the two Nordic countries. The research design is of descriptive character and the data is derived from Statistics Finland and Statistics Sweden. The key findings of the study are: (1) The private consumption continued to grow in both countries, with the exception in Finlandin 2009. (2) Both the actual decrease in consumption and the reallocation of commodities indicate that Finnish households have suffered more from the Global Financial Crisis compared to Swedish ones.

Suggested Citation

  • John Magnus ROOS, 2015. "Private Consumption in Sweden and Finland Before, During and After the Global Financial Crisis," Journal of Economics Library, KSP Journals, vol. 2(4), pages 321-328, December.
    • Handle: RePEc:ksp:journ5:v:2:y:2015:i:4:p:321-328
    as

    Download full text from publisher

    File URL: http://www.kspjournals.org/index.php/JEL/article/download/432/601
    Download Restriction: no
    File URL: http://www.kspjournals.org/index.php/JEL/article/view/432
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Wagner A. Kamakura & Rex Yuxing Du, 2012. "How Economic Contractions and Expansions Affect Expenditure Patterns," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 39(2), pages 229-247.
    2. Tullio Jappelli & Luigi Pistaferri, 2010. "The Consumption Response to Income Changes," Annual Review of Economics, Annual Reviews, vol. 2(1), pages 479-506, September.
    3. Sullström, Risto & Suoniemi, Ilpo, 1995. "The Structure of Household Consumption in Finland, 1966-1990," Research Reports 27, VATT Institute for Economic Research.
    4. Ori Heffetz, 2011. "A Test of Conspicuous Consumption: Visibility and Income Elasticities," The Review of Economics and Statistics, MIT Press, vol. 93(4), pages 1101-1117, November.
    5. Baxter, J. L. & Moosa, I. A., 1996. "The consumption function: A basic needs hypothesis," Journal of Economic Behavior & Organization, Elsevier, vol. 31(1), pages 85-100, October.
    6. Jonathan A. Parker & Annette Vissing-Jorgensen, 2009. "Who Bears Aggregate Fluctuations and How?," American Economic Review, American Economic Association, vol. 99(2), pages 399-405, May.
    7. Malcolm Edey, 2009. "The Global Financial Crisis and Its Effects," Economic Papers, The Economic Society of Australia, vol. 28(3), pages 186-195, September.
    8. Hall, Robert E, 1993. "Macro Theory and the Recession of 1990-1991," American Economic Review, American Economic Association, vol. 83(2), pages 275-279, May.
    9. Deaton,Angus & Muellbauer,John, 1980. "Economics and Consumer Behavior," Cambridge Books, Cambridge University Press, number 9780521296762.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kim, H. Youn, 2017. "The permanent income hypothesis, transitional dynamics, and excess sensitivity of consumption," Structural Change and Economic Dynamics, Elsevier, vol. 40(C), pages 10-25.
    2. Ori Heffetz, 2018. "Expenditure Visibility and Consumer Behavior: New Evidence," NBER Working Papers 25161, National Bureau of Economic Research, Inc.
    3. Adrien Auclert, 2019. "Monetary Policy and the Redistribution Channel," American Economic Review, American Economic Association, vol. 109(6), pages 2333-2367, June.
    4. John Foster, 2021. "The US consumption function: a new perspective," Journal of Evolutionary Economics, Springer, vol. 31(3), pages 773-798, July.
    5. Corinna Manig & Alessio Moneta, 2014. "More or better? Measuring quality versus quantity in food consumption," Journal of Bioeconomics, Springer, vol. 16(2), pages 155-178, July.
    6. Sumit Agarwal & Jessica Pan & Wenlan Qian, 2020. "Age of Decision: Pension Savings Withdrawal and Consumption and Debt Response," Management Science, INFORMS, vol. 66(1), pages 43-69, January.
    7. DeCicca, Philip & Kenkel, Donald & Liu, Feng & Somerville, Jason, 2021. "Quantifying brand loyalty: Evidence from the cigarette market," Journal of Health Economics, Elsevier, vol. 79(C).
    8. Justine Hastings & Jesse M. Shapiro, 2012. "Mental Accounting and Consumer Choice: Evidence from Commodity Price Shocks," NBER Working Papers 18248, National Bureau of Economic Research, Inc.
    9. Jean-Pierre Dubé & Günter J. Hitsch & Peter E. Rossi, 2018. "Income and Wealth Effects on Private-Label Demand: Evidence from the Great Recession," Marketing Science, INFORMS, vol. 37(1), pages 22-53, January.
    10. Slacalek, Jiri & Tristani, Oreste & Violante, Giovanni L., 2020. "Household balance sheet channels of monetary policy: A back of the envelope calculation for the euro area," Journal of Economic Dynamics and Control, Elsevier, vol. 115(C).
    11. Leonhard Lades, 2013. "Explaining shapes of Engel curves: the impact of differential satiation dynamics on consumer behavior," Journal of Evolutionary Economics, Springer, vol. 23(5), pages 1023-1045, November.
    12. Matherly, Ted & Arens, Zachary G. & Arnold, Todd J., 2018. "Big brands, big cities: How the population penalty affects common, identity relevant brands in densely populated areas," International Journal of Research in Marketing, Elsevier, vol. 35(1), pages 15-33.
    13. Nelson Manolo Chávez Munoz, Omaira Dayana Velázquez Mantilla, Mauricio Alejandro Mateus Tovar, 2011. "Cambios estructurales en la participación laboral en Colombia desde 1984 - 2008: un análisis econométrico del mercado laboral urbano para la generación de políticas de empleo," Revista CIFE, Universidad Santo Tomás, June.
    14. Teklewold, Hailemariam, 2011. "Farming or burning? shadow prices and farmer’s impatience on the allocation of multi-purpose resource in the mixed farming system of Ethiopia," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 116080, European Association of Agricultural Economists.
    15. Sergio Da Silva & Raul Matsushita & Vanessa Valcanover & Jessica Campara & Newton Da Costa, 2022. "Losses make choices nonpositional," SN Business & Economics, Springer, vol. 2(11), pages 1-11, November.
    16. J. K. Pappalardo, 2022. "Economics of Consumer Protection: Contributions and Challenges in Estimating Consumer Injury and Evaluating Consumer Protection Policy," Journal of Consumer Policy, Springer, vol. 45(2), pages 201-238, June.
    17. Rajeev K. Goel & Shoji Haruna, 2021. "Unmasking the demand for masks: Analytics of mandating coronavirus masks," Metroeconomica, Wiley Blackwell, vol. 72(3), pages 580-591, July.
    18. Angela Daley & Thesia I. Garner & Shelley Phipps & Eva Sierminska, 2020. "Differences across Place and Time in Household Expenditure Patterns: Implications for the Estimation of Equivalence Scales," Economic Working Papers 520, Bureau of Labor Statistics.
    19. T.R.L. Fry & R.D. Brooks & Br. Comley & J. Zhang, 1993. "Economic Motivations for Limited Dependent and Qualitative Variable Models," The Economic Record, The Economic Society of Australia, vol. 69(2), pages 193-205, June.
    20. Lee, Jonq-Ying & Brown, Mark G. & Schwartz, Brooke, 1986. "The Demand For National Brand And Private Label Frozen Concentrated Orange Juice: A Switching Regression Analysis," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 11(1), pages 1-7, July.

    More about this item

    Keywords

    Private consumption; household expenditures; financial crisis; Finland; Sweden.;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • G01 - Financial Economics - - General - - - Financial Crises
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ksp:journ5:v:2:y:2015:i:4:p:321-328. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Bilal KARGI (email available below). General contact details of provider: http://www.kspjournals.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.