Household Leverage and the Recession of 2007 to 2009

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Collateral Constraints and Macroeconomic Asymmetries (2013, unknown): “Part of our empirical analysis looks for instruments for house price changes as a way to isolate housing preference shocks from other shocks that are more likely to jointly move both housing and other endogenous variables, as done by Mian and Sufi (2011).”
Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone (2017, background): “The sudden stops themselves 3 Mian and Sufi (2010) find that the predictive power of household borrowing remains the same in counties dominated by national banks.”
Fiscal Policy and MPC Heterogeneity (2014, background): “For instance, households burdened with large debts might react to a positive change in income by reducing their debt rather than spending (Dynan, 2012; Mian and Sufi, 2010).”