16 Pages Posted: 8 Mar 2012
Date Written: February 8, 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.
Keywords: Great Recession, consumption, consumer expectations, Consumption, Saving, Wealth, Business Fluctuations, Cycles
JEL Classification: E21, E32
Suggested Citation: Suggested Citation
De Nardi, Mariacristina and French, Eric and Benson, David, Consumption and the Great Recession (February 8, 2012). Economic Perspectives, Vol. 36, No. 1, 2012. Available at SSRN: https://ssrn.com/abstract=2017759