Household Balance Sheets, Consumption, and the Economic Slump*

By Atif R. Mian, K. Rao, Amir Sufi. 2013

1,525 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/38a217ccbc0d97b1882ce7c4ca66b12490fc2d9c

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Citations in the corpus

The Cost of the Covid-19 Crisis: Lockdowns, Macroeconomic Expectations, and Consumer Spending (2020, positive): “Given the importance of mortgage defaults for the severity of the Great Recession, these results suggest a sluggish recovery and substantial defaults in the coming months absent adequate policy interventions (Mian et al., 2013).”
Credit-Induced Boom and Bust (2017, neutral): “The most closely related papers are Mian and Sufi (2009), and Kermani (2012).”
Do Banks Pass Through Credit Expansions to Consumers Who Want to Borrow (2015, positive): “Parker et al. (2013) estimate a marginal propensity to consume out of these payments of 50 to 90 percent for combined non-durable and durable consumption. If we take the mid-point of this range, achieving a $65 increase in consumption would require a stimulus payment of $93. The second exercise we p”
Policy Intervention in Debt Renegotiation: Evidence from the Home Affordable Modification Program (2016, background): “…evaluating the impact of foreclosures, falling house prices, and high levels of debt on economic outcomes (e.g., Mian and Sufi 2010; Melzer 2010; Mian et al. 2011; Campbell et al. 2011; and Mian and Sufi 2012).7 Finally, our findings investigating the possibility of crowding-out of private…”
Monetary Policy Pass-Through: Household Consumption and Voluntary Deleveraging (2014, methodology): “27 Interestingly, these effects together show a different reaction of durable consumption from its response to the fiscal stimulus recently identified by Mian and Sufi (2012a). The latter estimate the impact of the 2009 “Cash for Clunkers” program on short and medium-run auto purchases and show that”
Firm Entry and Employment Dynamics in the Great Recession (2014, positive): “Mian, Rao and Sufi (2013) show that counties with a high debtto-income ratio in 2006 experienced a larger decline in household expenditures during the financial crisis.”
Stock Market Wealth and the Real Economy: A Local Labor Market Approach (2019, methodology): “Other recent papers use regional variation but focus only on estimating housing wealth effects (Mian et al., 2013; Mian and Sufi, 2014; Guren et al., 2018).3 Our focus on the consumption wealth channel complements research on the investment channel of the stock market that dates to Tobin (1969) and…”
Debt and the Consumption Response to Household Income Shocks (2015, neutral): “[36] Mian, Atif R.”
Liquidity Constraints and Consumer Bankruptcy: Evidence from Tax Rebates (2014, background): “In this sense, reducing the barriers to bankruptcy may be a particularly effective economic stimulus, as the timely discharge of household debt may increase household consumption substantially (Mian et al., 2011).”