Professor Lester Taylor Publishes a New Book Titled The Internal Structure of U.S. Consumer Expenditures

Professor Lester Taylor, an AACG affiliate, has published a new book that investigates the trade-offs that consumers make between 14 broad categories of consumption, such as housing, food, transportation, entertainment and education, among others. This research uses more than a decade of income and expenditure data collected in consumer expenditure surveys (conducted quarterly by the U.S. Bureau of Labor Statistics) to measure economy-wide interactions between these major categories of consumption.

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