.S. household leverage from 2002 to 2006 and the increase in defaults from 2006 to 2008. Employing land topology-based housing …

This paper documents the trends in the life-cycle profiles of net worth and housing equity between 1983 and 2004. The … net worth of older households significantly increased during the housing boom of recent years. However, net worth grew by … more than housing equity, in part because other assets also appreciated at the same time. Moreover, the younger elderly …

individual-pre-tax and household-post-tax earnings and across administrative (Social Security Administration) and survey (Panel … Study of Income Dynamics) data. We estimate two alternative processes for household after-tax earnings and study their …

The goal of this chapter is to study how, and by how much, household income, wealth, and preference heterogeneity …, using data from the Panel Study of Income Dynamics, we document the patterns of household income, consumption and wealth …. Motivated by this evidence, we study several variants of a standard heterogeneous household model with aggregate shocks and an …

This paper examines the relationship between household balance sheets, consumer purchases, and expectations. We find … an explicit role for unemployment and for household debt. We find that the model is capable of explaining several …

homeownership, taking an average four years to do so. Despite massive stimulus and debt relief policies, recovery was slow and … affecting the pass-through of lower interest rates and debt relief to households including mortgage contract rigidity … based on our estimates suggest that, regardless of the narratives of the causes of housing boom and bust, alleviating these …

interventions, pass-through of monetary policy through household balance-sheets and design of the mortgage market …Using loan-level mortgage data merged with consumer credit records, we examine the ability of the government to impact … mortgage refinancing activity and spur consumption by focusing on the Home Affordable Refinance Program (HARP). The policy …

is derived, and tables of break-even policy premia are shown, based on estimated models of Los Angeles housing prices …