Lavender, Brady; Parent, Nicolas - In: Bank of Canada Review 2012-2013, Winter, pp. 13-26
The U.S. recovery from the Great Recession has been slow relative to other postwar-era recoveries in the United States. Encouraged by loose lending standards in the pre-crisis period, U.S. households took on unsustainable amounts of debt, making them vulnerable to adverse shocks. Subsequently, a...