TY  - CHAP
AB  - The influence of the household balance sheet, the supply of credit, and uncertainty on consumer spending during the early years of the Great Depression in the USA are assessed within a unified life-cycle consumption function framework. Income uncertainty played the dominant role in the spending declines of 1930 and 1932. The depletion of households' financial assets contributed modestly to the consumption falls in 1931–1932. Indebtedness, the severe penalties surrounding installment debt default, and the supply of credit had little effect on the consumer spending slump.
VL  - 21
SN  - 978-0-76230-993-1, 978-1-84950-194-1/0363-3268
DO  - 10.1016/S0363-3268(03)21003-X
UR  - https://doi.org/10.1016/S0363-3268(03)21003-X
AU  - Greasley David
AU  - Madsen Jakob B.
PY  - 2003
Y1  - 2003/01/01
TI  - The household balance sheet, credit, and uncertainty at the onset of the great depression in the USA
T2  - Research in Economic History
T3  - Research in Economic History
PB  - Emerald Group Publishing Limited
SP  - 55
EP  - 77
Y2  - 2024/04/23
ER  -