Chakrabarti, Rajashri; Lee, Donghoon; Klaauw, Wilbert … - 2011
Using credit report records and data collected from several household surveys, we analyze changes in household debt and … increase in saving - at least in 2009 - did not materialize through an increase in contributions to retirement and savings … appears to reflect a considerable decline in household debt, as households paid down mortgage debt in particular. At the end …