Durable consumption during recessions

David Berger, Joseph Vavra, 3 July 2014

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Over the course of the Great Recession, purchases of new vehicles and other consumer durables fell by $153 billion. Purchases of new homes and other forms of residential investments declined by more than $260 billion. All-told, declines in broadly defined durable spending accounted for more than half of the total decline in GDP during the Recession.

Topics: Macroeconomic policy
Tags: durable consumption spending, recession

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