methodology is sensitive to the modeling of household demography. Existing estimates of CPI bias do not account for the changing … effect of household size on budget shares, and this can lead to omitted variable bias. Since the effect of household size on … changing effect of household size is accounted for …

An increase in the household debt to GDP ratio in the medium run predicts lower subsequent GDP growth, higher … supply hypothesis,” we show that low mortgage spreads predict an increase in the household debt to GDP ratio and a decline in … subsequent GDP growth when used as an instrument. The negative relation between the change in household debt to GDP and …

Using administrative credit report records and data collected through several special household surveys we analyze … changes in household debt and savings during the 2007 recession. We find that while different segments of the population were … higher saving rate appears to reflect a considerable decline in household debt, with households paying down mortgage debt in …

frame-34 countries with GDP data starting between 1870 and 1896-estimation with country fixed effects is more appropriate … "iron-law" rate of 2%. In the post-1960s panel, estimation without country fixed effects supports the modernization …