Vehicle Ownership, Vehicle Acquisitions and the Growth of Auto Leasing: Evidence from Consumer Surveys

Board of Governors of the Federal Reserve System Finance and Econ. Disc. Series 96-35

Posted: 21 Oct 1996

See all articles by Ana M. Aizcorbe

Ana M. Aizcorbe

U.S. Bureau of Economic Analysis (BEA)

Martha Starr

American University - Department of Economics

Date Written: August 28, 1996

Abstract

This paper documents the basic features of data on motor vehicles from the Federal Reserve Board's Survey of Consumer Finances and the Bureau of Labor Statistics' Consumer Expenditure Survey. Despite some methodological differences between the two surveys, we find that they yield strikingly similar pictures of households' vehicle holdings. The survey data are also quite consistent with population estimates of vehicle stocks obtained from other sources. Finally, we document the growth of auto leasing by consumers and find little evidence for the commonly-held view that liquidity constraints are an important motivation for leasing.

JEL Classification: E21, D12, L62

Suggested Citation

Aizcorbe, Ana M. and Starr, Martha, Vehicle Ownership, Vehicle Acquisitions and the Growth of Auto Leasing: Evidence from Consumer Surveys (August 28, 1996). Board of Governors of the Federal Reserve System Finance and Econ. Disc. Series 96-35, Available at SSRN: https://ssrn.com/abstract=3423

Ana M. Aizcorbe (Contact Author)

U.S. Bureau of Economic Analysis (BEA) ( email )

1441 L Street NW
Washington, DC 20910
United States

Martha Starr

American University - Department of Economics ( email )

4400 Massachusetts Avenue, N.W.
Washington, DC 20016-8029
United States
202-885-3747 (Phone)

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