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Consumption of durable goods in the ongoing economic expansion

Author

Listed:
  • Dossche, Maarten
  • Saiz, Lorena

Abstract

Growth in the consumption of durable goods has been very strong in recent years. During the financial crisis, durable goods consumption contracted sharply, although the car scrappage schemes in several euro area countries provided some relief by encouraging purchases of new cars (e.g. in 2009). Since 2013, durable goods consumption has again grown vigorously, pushing up growth in overall consumption. The recovery observed in real disposable incomes and the easing of financing conditions have both boosted households’ appetite for durable goods, particularly in those euro area countries that were more affected by the financial crisis. JEL Classification: E21, E32

Suggested Citation

  • Dossche, Maarten & Saiz, Lorena, 2018. "Consumption of durable goods in the ongoing economic expansion," Economic Bulletin Boxes, European Central Bank, vol. 1.
    • Handle: RePEc:ecb:ecbbox:2018:0001:2
    Note: 3577821
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    File URL: https://www.ecb.europa.eu//pub/pdf/other/ebbox201801_02.en.pdf
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    Citations

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    Cited by:

    1. Silvia Magri & Valentina Michelangeli & Sabrina Pastorelli & Raffaella Pico, 2019. "The expansion of consumer credit in Italy and in the Euro Area: what are the drivers and the risks?," Questioni di Economia e Finanza (Occasional Papers) 500, Bank of Italy, Economic Research and International Relations Area.
    2. Casalis, André & Krustev, Georgi, 2022. "Cyclical drivers of euro area consumption: What can we learn from durable goods?," Journal of International Money and Finance, Elsevier, vol. 120(C).

    More about this item

    Keywords

    consumption; durable goods;

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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