This paper studies the direct impact of households' debt on consumption over the business cycle. We use household … (iv) credit constraints do not play a major role in shaping the debt-consumption nexus. We conclude that, in contrast to …

and second moments of inflation expectations separately affect subsequent household decisions. We document several key … encourages household job search, leading to higher subsequent employment among the unemployed and less under-employment among the …

, observed in the Household Finance and Consumption Survey (HFCS) for these countries. We then show that the heterogeneity in … household finances implies that responses of consumption to changes in the real interest rate and in house prices differ … substantially across countries, and within countries by household characteristics such as age, housing tenure, and asset positions …

We show that the size of collateralized household debt determines an economy's vulnerability to crises of confidence …

between 2010 and 2014 in Belgium, using panel data from the two waves of the Household Finance and Consumption Survey. Unlike …

One suggested hypothesis for the dramatic rise in household borrowing that preceded the financial crisis is that low …-income households increased their demand for credit to finance higher consumption expenditures in order to "keep up" with higherincome … households. Using household level data on debt accumulation during 2001-2012, we show that low-income households in high …

.e. ignoring within-household inequality). This assessment of existing approaches to measure individual inequality and poverty is …

Some individuals borrow extensively on their credit cards. This paper tests whether present-biased time preferences … correlate with credit card borrowing. In a field study, we elicit individual time preferences with incentivized choice … experiments, and match resulting time preference measures to individual credit reports and annual tax returns. The results …