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a severe default crisis. In this study, we review the existing literature and provide new evidence supporting the credit … supply view of the episode, which holds that an increase in credit supply unrelated to fundamental improvements in income or … productivity was the shock that initiated the household debt boom and bust. The credit supply view is supported by four facts …
Persistent link: https://www.econbiz.de/10013004197
a severe default crisis. In this study, we review the existing literature and provide new evidence supporting the credit … supply view of the episode, which holds that an increase in credit supply unrelated to fundamental improvements in income or … productivity was the shock that initiated the household debt boom and bust. The credit supply view is supported by four facts …
Persistent link: https://www.econbiz.de/10013004733
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Rising income inequality since the 1980s in the United States has generated a substantial increase in saving by the top of the income distribution, which we call the saving glut of the rich. The saving glut of the rich has been as large as the global saving glut, and it has not been associated...
Persistent link: https://www.econbiz.de/10012197559