with the highest reliance on credit card borrowing reduced durable consumption by significantly more following the … financial crisis of the fall of 2008. Overall, our estimates show that household leverage growth and dependence on credit card …

aggregate data. Changes in household credit limits explain 40% of the differential rise and fall of employment across states … gradual, credit shocks greatly slowed the recovery …

implies that real activity is very sensitive to liquidity shocks, but not to credit shocks, and that monetary policy can … significantly reduce the severity of credit-driven recessions …

official beginning of the recession in the fourth quarter of 2007. Similarly, counties with the highest reliance on credit card … statistical model shows that household leverage growth and dependence on credit card borrowing as of 2006 explain a large fraction …

official beginning of the recession in the fourth quarter of 2007. Similarly, counties with the highest reliance on credit card … statistical model shows that household leverage growth and dependence on credit card borrowing as of 2006 explain a large fraction …

aggregate data. Changes in household credit limits explain 40 percent of the differential rise and fall of employment across … gradual, credit shocks greatly slowed the recovery …

aggregate data. Changes in household credit limits explain 40% of the differential rise and fall of employment across states … gradual, credit shocks greatly slowed the recovery …