imperfectly identified. We quantify the relative statistical impact of income, unemployment, house prices, credit scores, debt … needs to allow for multiple determinants of consumption. Unemployment, income, and debt are important determinants of …

U.S. consumption has gone through steep ups and downs since 2000. We quantify the statistical impact of income …, unemployment, house prices, credit scores, debt, financial assets, expectations, foreclosures, and inequality on county …, it depends on a large number of variables whose explanatory power varies by subperiod. Growth of income, growth of …