Handbook of US Consumer Economics
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Handbook of US Consumer Economics

1st Edition - August 12, 2019
  • Editors: Andrew Haughwout, Benjamin Mandel
  • Paperback ISBN: 9780128135242
  • eBook ISBN: 9780128135259

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Description

Handbook of U.S. Consumer Economics presents a deep understanding on key, current topics and a primer on the landscape of contemporary research on the U.S. consumer. This volume reveals new insights into household decision-making on consumption and saving, borrowing and investing, portfolio allocation, demand of professional advice, and retirement choices. Nearly 70% of U.S. gross domestic product is devoted to consumption, making an understanding of the consumer a first order issue in macroeconomics. After all, understanding how households played an important role in the boom and bust cycle that led to the financial crisis and recent great recession is a key metric.

Key Features

  • Introduces household finance by examining consumption and borrowing choices
  • Tackles macro-problems by observing new, original micro-data
  • Looks into the future of consumer spending by using data, not questionnaires

Readership

Upper-division undergraduates, graduate students, and professionals worldwide working on household finance and consumer spending/retirement subjects

Table of Contents

  • Preface
    Benjamin Mandel and Andrew Haughwout
    1. Empirical Analysis of the U.S. Consumer: Fact, Fiction, and the Future
    Benjamin Mandel
    2. Trends in Household Debt and Credit
    Andrew Haughwout, Donghoon Lee, Joelle Scally, Lauren Thomas and Wilbert van der Klaauw
    3. Trends in Household Portfolio Composition
    Jesse Bricker, Kevin B. Moore and Jeffrey Pierce Thompson
    4. Household Debt and Recession in Brazil
    Gabriel Garber, Atif Mian, Jacopo Ponticelli and Amir Sufi
    5. Rationality in the Consumer Credit Market: Choosing between Alternative and Mainstream Credit
    Sumit Agarwal and Marieke Bos
    6. How do consumers respond to real income shocks?
    Fiona Greig and Amar Hamoudi
    7. Spending To and Through Retirement
    Katherine Roy, Je Oh, Sharon Carson and Joseph Marlo
    8. Are millennials different?
    Christopher Kurz, Geng Li and Daniel J. Vine
    9. China’s Consumer Spending E-Commerce: Facts and Evidence from JD’s Festival Online Sales
    Wei Tian, Yang Yang and Miaojie Yu
    10. Consumer Expectations and the Macroeconomy
    Giorgio Topa
    11. Macro Forecasting Using Alternative Data
    Apurv Jain
    12. Regional price parities in the United States
    Bettina Aten
    13. Measuring Prices and Real Household Consumption of Medical Goods: Service based versus disease based approaches
    Ralph Bradley and Brett Matsumoto
    14. A Brief History of the Supplemental Poverty Measure
    Thesia Garner and Liana Fox

Product details

  • No. of pages: 456
  • Language: English
  • Copyright: © Academic Press 2019
  • Published: August 12, 2019
  • Imprint: Academic Press
  • Paperback ISBN: 9780128135242
  • eBook ISBN: 9780128135259

About the Editors

Andrew Haughwout

Andrew Haughwout is Senior Vice President and Head of the Microeconomic Studies Department in the Research and Statistics Group at the Federal Reserve Bank of New York. His research in urban economics, public finance, infrastructure, household finance, applied microeconomics, consumer finance, and housing markets has been published in the Journal of Money Credit and Banking, The American Bankruptcy Institute Law Review, and Econometrica, among other publications. He is a co-editor of the Liberty Street Economics blog and a coeditor of the Bank's Economic Policy Review. In addition to his duties at the Bank, he is a Penn Institute for Urban Research Scholar and serves on the Advisory Board of the Journal of Regional Science. He is a past Chair of the North American Regional Science Council and the Federal Reserve System Committee on Regional Analysis. Prior to joining the New York Fed, Mr. Haughwout served as Assistant Professor and Director of the Urban and Regional Planning program at Princeton University. He holds a BA from Swarthmore College and a PhD from the University of Pennsylvania.

Affiliations and Expertise

Federal Reserve Bank of New York, New York, NY, USA

Benjamin Mandel

Benjamin Mandel is Executive Director in Multi-Asset Solutions at J.P. Morgan Asset Management. He is also an adjunct professor at Columbia University’s School of International and Public Affairs. Ben began his career as an economist in the International Finance division at the Federal Reserve Board and later moved to the International Research group at the Federal Reserve Bank of New York. Prior to joining J.P. Morgan, he was a member of the Global Economics team at Citi Research. Ben’s academic research has been published in leading scholarly journals, including: American Economic Review, American Economic Journal: Macroeconomics, American Economic Journal: Economic Policy, Quantitative Finance and the Journal of Economic Perspectives. He has held adjunct faculty positions at NYU Stern School of Business and Georgetown University, as well as various consultancy roles for the World Bank. Ben earned a Ph.D. in Economics from the University of California, Davis and a B.Sc. in Applied Economics from Cornell University.

Affiliations and Expertise

J.P. Morgan Asset Management, New York, NY, USA