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 Event

How 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.

Agenda

9:45 a.m.	Registration
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
Noon	Adjournment

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AEI Participants

Kevin A.
Hassett

Before joining AEI, Mr. Hassett was a senior economist at the Board of Governors of the Federal Reserve System and an associate professor of economics and finance at the Graduate School of Business of Columbia University, as well as a policy consultant to the Treasury Department during the George H. W. Bush and Clinton administrations. He served as an economic adviser to the George W. Bush 2004 presidential campaign, chief economic adviser to Senator John McCain during the 2000 presidential primaries, senior economic adviser to the McCain 2008 presidential campaign, and economic adviser to the Mitt Romney 2012 presidential campaign. Mr. Hassett is a columnist for National Review.
Phone: 202-862-7157
Email: khassett@aei.org
Assistant Info
Name: Emma Bennett
Phone: 202-862-5862
Email: emma.bennett@aei.org