Household Debt and the Great Recession
Summary
These are shorter pieces meant for a general audience that summarize my views on the importance of household balance sheets in explaining the severity of the recession and the weakness of the subsequent recovery:
- Household Debt is at Heart of Weak U.S. Economy, Bloomberg Op-ed
- How Household Debt Contributes to Unemployment (with Atif Mian), Bloomberg Op-ed
- Interview with Mike Konczal of RortyBomb/Next New Deal
- Lessons from the Great Recession: Household Debt in Macroeconomic Models, essay for the May 2012 academic consultants' meeting of the Federal Reserve Board of Governors (slides)
- The Great Recession: Lessons from Microeconomic Data (with Atif Mian), American Economic Review Papers and Proceedings, May 2010