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We show that the size of collateralized household debt determines an economy's vulnerability to crises of confidence …
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We show that the size of collateralized household debt determines an economy's vulnerability to crises of confidence …
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We follow a representative panel of millions of consumers in the U.S. from 2007 to 2017 and document several facts on the long-term effects of the Great Recession. There were about six million foreclosures in the ten-year period after Lehman's collapse. Owners of multiple homes accounted for 25%...
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In a context of increasing attention to growing fixed payments, slim buffers, and unstable incomes in the household … household expenditure data to examine which expenditure categories are prioritised when households enter into financial stress … important implications for how we understand household sensitivity to shocks and the behaviour of households with regards to …
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