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.