The balance sheet adjustment in the household sector was a prominent feature of the Great Recession that is widely believed to have held back the cyclical recovery of the US economy. A key question for the US outlook is therefore whether household deleveraging has ended or whether further...

Since 2010, all federal student loans have been made directly by the government. But before that, most federal student loans were made by private creditors such as banks and backstopped by the Department of Education (ED). More than 10 million Americans still owe more than $238 billion in loans...

The quadrupling of oil prices since the end of 1973 was accompanied by a rapid increase in the borrowings of developing countries. A global view of their external debt situation reveals some alarming realities.