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The expansion periods appear to stimulate people to raise their consumption of all aggregate consumption series total gambling, recreational activities, services, and nondurables as nicely. The development in the initially two series even exceeds the growth in income, whilst consumption development of services follows and of nondurables is beneath revenue growth in this period. Through recession the consumption of total gambling and recreational activities does not change substantially but the consumption of nondurables reduces considerably, even much more than the decline in earnings. The final results visit the next internet site indicate that the three gambling consumption series react fairly differently to the small business cycle. The only gambling sector that seems to be recession proof is lottery consumption. This series is characterized by a vast and strong growth that appears to be independent of the small business cycle and of temporary shocks to earnings. Casino expenditures appear to have important optimistic development during both expansion and recession. This development exceeds the growth in revenue through expansion but decreases and follows revenue growth closely through recession.

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