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 …A number of economists argue that household deleveraging can exert a significant drag on the economic recovery by …

, this paper finds evidence of a negative relationship between changes of household debt-to-income ratios and saving rates …Historically high household debt in several economies is calling for a deleveraging, but according to some economists …. This relationship is however asymmetric, being significant only for debt build-ups. Declining debt ratios and saving are …