From 1995 to 2005, the average urban household saving rate in China rose by 7 percentage points, to ¼ of disposable … income. We use household-level data to explain the postponing of consumption despite rapid income growth. Tracing cohorts … expenditures on housing, education, and health care. …

Supersedes Working Paper 13-27. Reverse mortgage loans (RMLs) allow older homeowners to borrow against housing wealth …

projected to go even higher. While most of the time a foreclosure is a suboptimal resolution of a distressed mortgage, a number … of features of the mortgage finance system often prevent loan modifications. This paper reviews the impediments to … successful mortgage restructuring and proposes a number of ways to improve the situation. The proposals build on the recognition …

high level of household leverage and housing prices could prove to be a source of vulnerability. The rebound in debt and …Canadian housing prices are higher than levels consistent with current fundamentals in some provinces. The empirical … estimates suggest that a 10 percent decline in housing prices would lead to a 1¼ percent decline in private consumption. The …