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Measuring Consumer Expenditures With Payment Diaries

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  • Scott Schuh

Abstract

Payment diaries measure consumer expenditures by tracking authorization of payments by instrument (cash, check, debit or credit card, etc.). Three notable results emerge from comparing the 2012 Diary of Consumer Payment Choice (DCPC) to other estimates of consumer expenditures: (1) DCPC payments are 75% higher than Consumer Expenditure Survey estimates; (2) DCPC consumption estimates are 17% higher than comparable personal consumption expenditure estimates; and (3) DCPC payments roughly equal comparably adjusted National Income and Product Accounts personal disposable income. The DCPC's relative success stems from measuring expenditures aggregated into lumpy payments (“shopping baskets”), relatively low respondent burden, and effective random sampling. (JEL E21, D12, D14)

Suggested Citation

  • Scott Schuh, 2018. "Measuring Consumer Expenditures With Payment Diaries," Economic Inquiry, Western Economic Association International, vol. 56(1), pages 13-49, January.
    • Handle: RePEc:bla:ecinqu:v:56:y:2018:i:1:p:13-49
    DOI: 10.1111/ecin.12485
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    References listed on IDEAS

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    Cited by:

    1. Giorgia Rocco, 2019. "The use of cash in Italy: evidence from the ECB Study on the use of cash by households," Questioni di Economia e Finanza (Occasional Papers) 481, Bank of Italy, Economic Research and International Relations Area.
    2. Tamás Briglevics & Scott Schuh, 2020. "This Is What's in Your Wallet...and Here's How You Use It," Working Papers 20-04, Department of Economics, West Virginia University.
    3. Scott Fulford & Scott Schuh, 2020. "Credit Cards, Credit Utilization, and Consumption," Working Papers 19-07, Department of Economics, West Virginia University.

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    More about this item

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance

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