Mian, A.; Sufi, A. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 255-296). 2016
household net worth coming from elevated household debt and the collapse in house prices play an underappreciated role. Using … highlight the increasing body of macroeconomic evidence on the link between household debt and business cycles. Our main … conclusion is that housing and household debt should play a larger role in models exploring the importance of household …
