Series: IMF Working Papers
Author(s): Adrian Alter , Alan Xiaochen Feng , and Nico Valckx
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 06 April 2018
Keywords: Household debt; financial crises; neglected crash risk; leverage; macro-financial stability, Household debt, financial crises, neglected crash risk, leverage, macro-financial stability, Forecasting and Simulation, General
We confirm the negative relationship between household debt and future GDP growth documented in Mian, Sufi, and Verner (2017) for a wider set of countries over the period 1950-2016. Three mutually reinforcing mecha...