The Effect of Wealth on Household Spending
Wednesday, December 18, 2002 | 10:00 a.m. – 12:00 p.m.
Wohlstetter Conference Center, Twelfth Floor, AEI 1150 Seventeenth Street, N.W., Washington, D.C. 20036
About This EventHow do economists analyze the impact of the recent dramatic shifts in household wealth on consumer spending? Because of the sharp rise in stock prices in the late 1990s and the subsequent decline in the market for almost three years, the wealth of households in the United States has varied recently to an unprecedented degree. Michael Palumbo, an economist at the Federal Reserve Board of Governors, will address this important issue since consumer spending is the principle driver of our economy. Kevin Hassett, AEI resident scholar, and Christopher Carroll, professor of economics at John Hopkins University, will comment.
|10:00||Speaker:||Michael Palumbo, Federal Reserve Board of Governors|
|Discussants:||Kevin A. Hassett, AEI|
|Christopher Carroll, John Hopkins University|
|Moderator:||Eric M. Engen, AEI|