Consumer activity still represents the biggest chunk of the nation’s output, but the economic downturn has dampened the enthusiasm of U.S. shoppers. What has influenced previous patterns of consumption and how might that help inform expectations about future consumption trends?
Chatterjee, Satyajit. "The Peopling of Macroeconomics: Microeconomics of Aggregate Consumer Expenditures." Federal Reserve Bank of Philadelphia Business Review, First Quarter 2009, pp. 1-10.
Dynan, Karen. "Changing Household Financial Opportunities and Economic Security." Journal of Economic Perspectives, Fall 2009, vol. 23, no. 4, pp. 49-68.