1. SOURCES OF INSTABILITY IN THE PRIVATE ECONOMY
PART SIX
SOURCES OF INSTABILITY IN THE PRIVATE ECONOMY

2. Instability in the Private Economy: Consumption Behavior
Chapter 15
Instability in the Private Economy: Consumption Behavior

3. Figure 15-1 Real Consumer Expenditure and Its Three Components, 1960–2001

4. Figure The Relation Between Disposable Income (YD), Consumption Spending (C), and the Ratio of Saving to Income (S/YD)
Source for bottom frame: U.S. Bureau of Labor Statistics, Consumer Expenditure Survey: Results from 1986, Washington, D.C., April 1988, Table 2.

5. Figure Ratio of Personal Saving to Disposable Personal Income (S/YD), Averages over Business Cycles, 1898–2001
Sources: : Paul David and John Scadding, “Private Savings: Ultrarationality, Aggregation, and ‘Denison’s Law’,” Journal of Political Economy (March/April 1974) : Historical Statistics of the United States, Series F 639 and F : National Income and Product Accounts.

6. Figure 15-4 The Permanent-Income Hypothesis of Consumption and Saving
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7. Figure 15-5 The Behavior of Consumption, Saving, and Assets under the Life-Cycle Hypothesis
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8. Figure Consumption, Saving, and Assets under the Life-Cycle Hypothesis When There Is an Initial Stock of Assets
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9. International Perspective Why Do Some Countries Save So Much?
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10. Figure The Household Saving Rate and the Ratio of the S&P 500 Stock Market Index to Nominal GDP, 1970–2001
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11. Figure 15-8 Household Saving in the NIPA and Flow of Funds Accounts, 1960–2001
Source: National Income and Product Accounts and Flow of Funds Accounts.
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12. Figure 15-9 FFA and Gains-Inclusive Saving Rates
Source: National Income and Product Accounts and Flow of Funds Accounts.
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