Household Leverage and the Recession /
We evaluate and partially challenge the 'household leverage' view of the Great Recession. In the data, employment and consumption declined more in states where household debt declined more. We study a model where liquidity constraints amplify the response of consumption and employment to c...
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| Інші автори: | , |
| Формат: | Журнал |
| Мова: | English |
| Опубліковано: |
Washington, D.C. :
International Monetary Fund,
2018.
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| Серія: | IMF Working Papers; Working Paper ;
No. 2018/194 |
| Онлайн доступ: | Full text available on IMF |