Do Interest Rates, Quell or Control Non-Essential Spending?

This year, American citizens have seen a rise in interest rates to reduce inflation, but even with the rise of interest rates citizens are spending money on non-essential items. My theory is that interest rates have no effect on non-essential spending. To test this theory, I pulled data from the blog Renaissance Tour 2023 and data from the Federal Reserve. After pulling the data, I ran several correlations and ran a Multivariate OLS regression. My findings show no statistical relationship between interest rates and average ticket price, supporting my theory. [ABSTRACT FROM AUTHOR]

Copyright of Critique: A Worldwide Student Journal of Politics is the property of Illinois State University, Department of Politics & Government and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)