We confirm the negative relationship between household debt and future GDP growth documented in Mian, Sufi, and Verner … relationship. First, debt overhang impairs household consumption when negative shocks hit. Second, increases in household debt … be systematically neglected due to investors' overoptimistic expectations associated with household debt booms. In …

Historically high household debt in several economies is calling for a deleveraging, but according to some economists …, this paper finds evidence of a negative relationship between changes of household debt-to-income ratios and saving rates … suggest that the economic cost associated with household deleveraging may be overestimated and motivate a deleveraging via …

empirical approach exploits variation in exposure to foreign currency household loans during a currency crisis in Hungary …

A number of economists argue that household deleveraging can exert a significant drag on the economic recovery by … household saving rates and changes in debt-to-income ratios. This relationship is however asymmetric, being statistically and … adjustment in saving rates associated with household deleveraging may widely differ across countries and may be overestimated for …