Expanded Consumption Function Data

List of variables:

Year = calendar year
Yd = real disposable personal income (in billions of chained 1996 dollars)
C = real consumption expenditures (in billions of chained 1996 dollars)
wealth = real wealth in billions of chained 1996 dollars
interest = real interest rate = nominal annual yield on 3-month Treasury securities - inflation rate (measured by the annual % change in annual chained price index)


The nominal real wealth variable was created using data from the Federal Reserve Board's measure of end-of-year net worth for households and nonprofits in the flow of funds accounts. The price index used to convert this nominal wealth variable to a real wealth variable was the average of the chained price index from the 4th quarter of the current year and the 1st quarter of the subsequent year.


C, Yd, and quarterly and annual chain-type price indexes (1996=100) - Bureau of Economic Analysis, U.S. Department of Commerce (http://www.bea.doc.gov/bea/dn1.htm)

Nominal annual yield on 3-month Treasury securities - Economic Report of the President, 2002

Nominal wealth = end of year nominal net worth of households and non-profits (from Federal Reserve flow of funds data - http://www.federalreserve.gov)

John Kane - kane@oswego.edu
Department of Economics, SUNY-Oswego, Oswego, NY 13126