Increased Credit Availability, Rising Asset Prices Help Boost Consumer Spending

4 Pages Posted: 20 Apr 2016

See all articles by John V. Duca

John V. Duca

Federal Reserve Banks - Federal Reserve Bank of Dallas; Oberlin College

Anthony Murphy

Federal Reserve Banks - Federal Reserve Bank of Dallas

Elizabeth Organ

New York University School of Law

Date Written: 2016

Abstract

A combination of much less household debt, revived access to consumer credit and recovering asset prices have holstered U.S. consumer spending. This trend will likely continue despite an estimated 50 percent reduction since the mid-2000s of the housing wealth effect—an important amplifier during the boom years.

Suggested Citation

Duca, John V. and Murphy, Anthony and Organ, Elizabeth, Increased Credit Availability, Rising Asset Prices Help Boost Consumer Spending (2016). Economic Letter, Vol. 11, Issue 3, pp. 1-4, 2016, Available at SSRN: https://ssrn.com/abstract=2767365

John V. Duca (Contact Author)

Federal Reserve Banks - Federal Reserve Bank of Dallas ( email )

2200 North Pearl Street
PO Box 655906
Dallas, TX 75265-5906
United States

Oberlin College

Oberlin, OH 44074
United States

Anthony Murphy

Federal Reserve Banks - Federal Reserve Bank of Dallas ( email )

Elizabeth Organ

New York University School of Law

40 Washington Square South
New York, NY 10012-1099
United States

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