Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/54303 
Year of Publication: 
2007
Series/Report no.: 
Public Policy Brief No. 90
Publisher: 
Levy Economics Institute of Bard College, Annandale-on-Hudson, NY
Abstract: 
With economic growth having cooled to less than 1 percent in the first quarter of 2007, the economy can ill afford a slump in consumption by the American household. But it now appears that the household sector could finally give in to the pressures of rising gasoline prices, a weakening home market, and a large debt burden. The signals are still mixed; for example, while April's retail sales numbers caused concern, May's were much improved, and so was the ISM manufacturing index for June. Consumption growth indicates a slowdown. This Public Policy Brief examines the American household and its economic fortunes, concentrating on how falling home prices might hamper economic growth, generate social dislocations, and possibly lead to a full-blown financial crisis.
ISBN: 
978-1-931493-66-6
Document Type: 
Research Report

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