Credit constraints and consumer spending

Arbeitspapier

This paper examines the relationship between aggregate consumer spending and credit availability in the United States. The author finds that consumer spending falls (rises) in response to a reduction (increase) in credit availability. Moreover, she provides a formal assessment of the possibility that credit availability is particularly important for consumer spending when it undergoes large changes. In this respect, she estimates a consumption function in which only large expansions and contractions in credit affect spending. She concludes that large changes in credit availability are particularly important for consumers' spending decisions. As should be expected, these periods tend to be associated with periods of high economic uncertainty. These results show that credit availability should be taken into account when modeling and forecasting consumer spending.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Bank of Canada Working Paper ; No. 2009-25

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Macroeconomics: Consumption; Saving; Wealth ; Macroeconomics: Consumption, Saving, Production, Employment, and Investment: Forecasting and Simulation: Models and Applications ; Financial Markets and the Macroeconomy ; Money Supply; Credit; Money Multipliers ; Central Banks and Their Policies
• Thema: Credit and credit aggregates ; Domestic demand and components ; Recent economic and financial developments ; Privater Haushalt ; Kreditwürdigkeit ; Verschuldungsrestriktion ; Haushaltseinkommen ; Gesamtwirtschaftlicher Konsum ; USA

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Beaton, Kimberly
• Ereignis: Veröffentlichung
• (wer): Bank of Canada
• (wo): Ottawa
• (wann): 2009

Weitere Informationen

• DOI: doi:10.34989/swp-2009-25
• Handle: http://hdl.handle.net/10419/53822
• Letzte Aktualisierung: 20.09.2024, 08:21 MESZ