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Aggregate Consumption and Saving in the Postwar United States

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  • Slesnick, Daniel T
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    Abstract

    Two commonly used sources of aggregate expenditure data are personal consumption expenditures in the National Income an d Product Accounts and the Consumer Expenditure Surveys administered by the Bureau of Labor Statistics. The author adjusts b oth data sources to incorporate the service flows from owner-occupied housing and other consumer durables. A comparison of the two estimat es of aggregate expenditure reveals that the differences between the tw o data sets have been growing over time. By 1989 the level of aggregat e expenditure in the national accounts exceeds that reported in the Consumer Expenditure Surveys by $1224 billions. Less than half of th is difference can be attributed to definitional differences in the two data sources. Copyright 1992 by MIT Press.

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    Bibliographic Info

    Article provided by MIT Press in its journal Review of Economics & Statistics.

    Volume (Year): 74 (1992)
    Issue (Month): 4 (November)
    Pages: 585-97

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    Handle: RePEc:tpr:restat:v:74:y:1992:i:4:p:585-97

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    Cited by:
    1. Javier Díaz-Giménez & Vincenzo Quadrini & José-Víctor Ríos-Rull, 1997. "Dimensions of inequality: facts on the U.S. distributions of earnings, income, and wealth," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Spr, pages 3-21.
    2. Stephane Guibaud & Keyu Jin & Nicolas Coeurdacier, 2011. "Credit Constraints and Growth in a Global Economy," 2011 Meeting Papers 1040, Society for Economic Dynamics.
    3. Keyu Jin & Stéphane Guibaud & Nicolas Coeurdacier, 2011. "Credit constraints and growth in a global economy," LSE Research Online Documents on Economics 35706, London School of Economics and Political Science, LSE Library.
    4. Keyu Jin & Stéphane Guibaud & Nicolas Coeurdacier, 2013. "Credit constraints and growth in a global economy," LSE Research Online Documents on Economics 54261, London School of Economics and Political Science, LSE Library.
    5. Alessandra Michelangeli & Eugenio Peluso & Alain Trannoy, 2011. "Detecting a change in wealth concentration without the knowledge of the wealth distribution," Journal of Economic Inequality, Springer, vol. 9(3), pages 373-391, September.
    6. Garner, Thesia I. & Short, Kathleen, 2009. "Accounting for owner-occupied dwelling services: Aggregates and distributions," Journal of Housing Economics, Elsevier, vol. 18(3), pages 233-248, September.
    7. Bettina Aten & Eric Figueroa & Troy Martin, 2012. "How can the American Community Survey (ACS) be used to improve the imputation of Owner-Occupied Rent Expenditures?," BEA Working Papers 0080, Bureau of Economic Analysis.
    8. Martin Beznoska & Richard Ochmann, 2013. "The interest elasticity of household savings: a structural approach with German micro data," Empirical Economics, Springer, vol. 45(1), pages 371-399, August.
    9. Brannlund, Runar & Ghalwash, Tarek & Nordstrom, Jonas, 2007. "Increased energy efficiency and the rebound effect: Effects on consumption and emissions," Energy Economics, Elsevier, vol. 29(1), pages 1-17, January.
    10. Tatiana Kirsanova & James Sefton, 2006. "A Comparison of National Saving Rates in the UK, US and Italy," NIESR Discussion Papers 278, National Institute of Economic and Social Research.
    11. Emily Anderson & Atsushi Inoue & Barbara Rossi, 2012. "Heterogeneous Consumers and Fiscal Policy Shocks," 2012 Meeting Papers 261, Society for Economic Dynamics.
    12. Till van Treeck, 2012. "Did inequality cause the U.S. financial crisis?," IMK Working Paper 91-2012, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    13. George Korres & Emmanuel Marmaras & George Tsobanoglou, 2004. "A note on poverty, inequality and growth," ERSA conference papers ersa04p500, European Regional Science Association.
    14. Athreya, Kartik & Tam, Xuan S. & Young, Eric R., 2009. "Unsecured credit markets are not insurance markets," Journal of Monetary Economics, Elsevier, vol. 56(1), pages 83-103, January.

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