Household Leverage and the Recession is popular PDF and ePub book, written by Callum Jones in 2018-08-30, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Household Leverage and the Recession can be Read Online from any device for your convenience.
Household Leverage and the Recession Book PDF Summary
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 changes in debt. We estimate the model with Bayesian methods combining state and aggregate data. Changes in household credit limits explain 40 percent of the differential rise and fall of employment across states, but a small fraction of the aggregate employment decline in 2008-2010. Nevertheless, since household deleveraging was gradual, credit shocks greatly slowed the recovery.
Detail Book of Household Leverage and the Recession PDF
- Author : Callum Jones
- Release : 30 August 2018
- Publisher : International Monetary Fund
- ISBN : 9781484373866
- Genre : Business & Economics
- Total Page : 51 pages
- Language : English
- PDF File Size : 11,9 Mb
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