Household Leverage and the Recession
We study a model where households use home equity to finance consumption expenditures and we analyze the macroeconomic consequences of a credit crunch triggered by tightening lending standards.
|Date of creation:||2011|
|Date of revision:|
|Contact details of provider:|| Postal: Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA|
Web page: http://www.EconomicDynamics.org/
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