Impact of Consumer Installment Debt on Food Expenditures

Raymond Kirby and Oral Capps

No 271274, 1991 Annual Meeting, August 4-7, Manhattan, Kansas from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Trends in consumer installment credit over the period 1970 to 1989 are discussed and an empirical model developed to identify and assess the impact of installment credit on food expenditures. Real per capita food expenditures are modeled as a function of the real price of food, real per capita personal disposable income, seasonality, and a measure of the level of consumer installment credit entered as a polynomial distributed lag to determine its effect over time. Results indicate that installment credit has a positive effect on food expenditures in the short-run, a negative effect in the long-run, and little effect overall. Results from separate models of the 1970s and 1980s provide evidence of structural change taking place between the two time periods.

Keywords: Consumer/Household Economics; Financial Economics; Food Consumption/Nutrition/Food Safety (search for similar items in EconPapers)
Pages: 24
Date: 1991-08-04
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea91:271274

DOI: 10.22004/ag.econ.271274

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