Sunday, May 18, 2014

debt loads

The Nonexistent Rise in Household Consumption by JW Mason
In our "Fisher dynamics" paper, Arjun Jayadev and I showed that the rise in debt-income ratios for the household sector is not due to any increase in household borrowing, but can be entirely explained by higher interest rates relative to income growth and inflation.
Pace Dean Baker and House of Debt. Or maybe not.

Diagnoses and Prescriptions: The Great Recession by Jared Bernstein


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