Household consumption: Research questions, measurement issues, and data collection strategies

Abstract

In this essay I summarize what I see as the most important academic and policy issues related to the study of consumption behavior in the US (and elsewhere). I discuss the type of data researchers working on these topics have available, the problems they encounter, and how the “big data revolution” is rapidly changing access and availability of data on household spending. Finally, I discuss the arguments in favor and against starting a new national panel survey collecting consumption-related information as opposed to enhancing or improving the existing surveys.