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Crush The Wealth GapAuthor: Aman Bansil
This Podcast is dedicated to bring you the techniques and strategies you need to help you drive forward and become financially successful. The divide between the rich and the poor is widening every day; it's more important than ever to understand how financial education and internal drive can help you get ahead and Crush The Wealth Gap. http://CrushTheWealthGap.com Language: en Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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Post-Pandemic spending habits
Tuesday, 29 October, 2024
Source: https://research.stlouisfed.org/publications/economic-synopses/2024/06/28/uneven-consumption-growth-in-the-covid-19-economic-recovery This paper by Juan M. Sánchez and Masataka Mori examines the growth of consumption during the economic recovery from the COVID-19 pandemic, specifically focusing on the spending patterns across different income groups in the United States. The paper uses data from the Bureau of Economic Analysis and income elasticity estimates from Aguiar and Bils (2015) to demonstrate a positive correlation between income elasticity and real consumption growth. The analysis suggests that goods and services with higher income elasticity, which are consumed more by wealthier individuals, experienced greater growth in spending during the recovery period. This finding suggests that the increased consumption by wealthier families may have played a significant role in the post-pandemic spending surge.
