The Asymmetric Effects of Deflation on Consumption Spending: Evidence from the Great Depression*
| Title: | The Asymmetric Effects of Deflation on Consumption Spending: Evidence from the Great Depression* |
|---|---|
| Authors: | J. Scott Davis; Jel Codes E |
| Contributors: | The Pennsylvania State University CiteSeerX Archives |
| Source: | http://www.dallasfed.org/assets/documents/institute/wpapers/2015/0226.pdf. |
| Publication Year: | 2015 |
| Collection: | CiteSeerX |
| Description: | Does expected deflation lead to a fall in consumption spending? Using data for U.S. grocery store sales and department store sales from 1919 to 1939, this paper shows that expected price changes have asymmetric effects on consumption spending. Department store sales (durable consumption) react negatively to the expectation of falling prices, but grocery store sales (non-durable consumption) do not react to expected price changes. |
| Document Type: | text |
| File Description: | application/pdf |
| Language: | English |
| Relation: | http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.685.2039; http://www.dallasfed.org/assets/documents/institute/wpapers/2015/0226.pdf |
| Availability: | http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.685.2039; http://www.dallasfed.org/assets/documents/institute/wpapers/2015/0226.pdf |
| Rights: | Metadata may be used without restrictions as long as the oai identifier remains attached to it. |
| Accession Number: | edsbas.F2F11D59 |
| Database: | BASE |