ECIN Replication Package for "Sustainable Consumption and the Economic Well-Being of American Households"

Principal Investigator(s):  View help for Principal Investigator(s) Daniel Cooper, Federal Reserve Bank of Boston; Barry Cynamon, Weidenbaum Center, Washington University in St. Louis; Steven Fazzari, Washington University in St. Louis

Version:  View help for Version V1

Name File Type Size Last Modified
CCF ReadMe.pdf application/pdf 98 KB 07/10/2025 05:32:AM
CPS_yr_race.xlsx application/vnd.openxmlformats-officedocument.spreadsheetml.sheet 33.8 KB 06/24/2025 01:27:PM
C_hat_decomp.xlsx application/vnd.openxmlformats-officedocument.spreadsheetml.sheet 121 KB 07/09/2025 06:55:AM
Figs_Final.xlsx application/vnd.openxmlformats-officedocument.spreadsheetml.sheet 184.2 KB 06/25/2025 04:24:AM
Robust_Results.xlsx application/vnd.openxmlformats-officedocument.spreadsheetml.sheet 19.5 KB 07/08/2025 06:03:PM
_A_00_CCF_Replication_Script.do text/plain 1.1 KB 07/09/2025 05:17:AM
_A_01_settings.do text/plain 1.2 KB 06/10/2025 09:59:AM
_A_12_CPS_IncGrowth.do text/plain 13 KB 06/10/2025 05:03:AM
_A_15_RealWage.do text/plain 3.7 KB 06/10/2025 07:28:AM
_A_20_ssparm.do text/plain 8.9 KB 06/10/2025 07:30:AM
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Project Citation: 

Cooper, Daniel, Cynamon, Barry , and Fazzari, Steven. ECIN Replication Package for “Sustainable Consumption and the Economic Well-Being of American Households.” Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2025-07-10. https://doi.org/10.3886/E235505V1

Project Description

Summary:  View help for Summary “Sustainable consumption” defines a comprehensive measure of household economic well-being that integrates income, assets, debt, transfers, and rates of return to estimate a feasible lifetime consumption path. We find that sustainable consumption anchors actual spending, with deviations in one period adjusting back toward the sustainable level in subsequent periods. After the Great Recession, sustainable consumption fell more than actual consumption, in part due to lower real asset returns. Decomposing sustainable consumption into its components reveals primary support from taxable income, but its share has declined while Social Security’s has grown. Substantial differences are also evident across race-ethnicity and educational levels.
Funding Sources:  View help for Funding Sources Institute for New Economic Thinking; Weidenbaum Center at Washington University

Scope of Project

Subject Terms:  View help for Subject Terms Household Life-Cycle Analysis; Sustainable Spending
JEL Classification:  View help for JEL Classification
      D14 Household Saving; Personal Finance
      E21 Macroeconomics: Consumption; Saving; Wealth
      G51 Household Finance: Household Saving, Borrowing, Debt, and Wealth
Manuscript Number:  View help for Manuscript Number ECIN-Mar-2024-0112
Time Period(s):  View help for Time Period(s) 1984 – 2021
Data Type(s):  View help for Data Type(s) survey data

Methodology

Data Source:  View help for Data Source Panel Study of Income Dynamics
Current Population Survey
Unit(s) of Observation:  View help for Unit(s) of Observation Households

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Published Versions

V1 [2025-07-10]

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