Consumption and the Great Recession
Mariacristina De Nardi
University College London, Economics Dpt.; Federal Reserve Bank of Chicago; National Bureau of Economic Research (NBER) - Public Economics
Federal Reserve Bank of Chicago; Department of Economics
Federal Reserve Bank of Chicago
February 8, 2012
Economic Perspectives, Vol. 36, No. 1, 2012
This article addresses why the latest recession featured the most severe and persistent decline in aggregate consumption since WWII and why its recovery path has been so weak.
Number of Pages in PDF File: 16
Keywords: Great Recession, consumption, consumer expectations, Consumption, Saving, Wealth, Business Fluctuations, Cycles
JEL Classification: E21, E32Accepted Paper Series
Date posted: March 8, 2012
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