Measuring the Effects of Housing Wealth, Oil Prices, and Determinants of Consumption on Consumer Spending

This paper examines the possible effects of Housing Wealth, Oil Prices, Disposable Income, and other determinants of consumption on Consumer Spending in the United States, considering consumer spending is the final purpose of economic activity. The study will use determinants of household consumption in a multivariate time-series model to examine the changes over time in the previously mentioned independent variables. Additionally, Random Forest will be used as a Machine Learning Model to predict different outcomes in the same sector.