House Prices, Home Equity-Based Borrowing, and the U.S. Household Leverage Crisis

By Atif R. Mian, Amir Sufi. 2011

1,234 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/5b209b37e94a0e3a4f090b010612275255aeb3a7

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Citations in the corpus

Housing and Liquidity (2015, background): “Mian and Sufi (2011), estimate that homeowners extracted 25 cents for every dollar increase in home equity, and these loans added $1.25 trillion to household debt between 1The financial development they have in mind is securitization.”
Credit Growth and the Financial Crisis: A New Narrative (2017, background): “Second, if investors are motivated by the prospect of capital 1See Mian and Sufi (2009), Mian and Sufi (2010), Mian and Sufi (2011), Mian, Rao, and Sufi (2013) and Mian, Sufi, and Trebbi (2015).”
How Quantitative Easing Works: Evidence on the Refinancing Channel (2016, neutral): “As commonly assumed in the MPC literature (e.g., Mian and Sufi, 2011), we assume the marginal propensity to consume out of cashed-out equity is 1 (the assumption being that borrowers cash-out equity to spend it).”
Mortgage Debt, Consumption, and Illiquid Housing Markets in the Great Recession (2017, background): “3 The Effect of Housing and Debt on Consumption Dynamics Recall that Mian et al. (2013) emphasize the role of the housing bust in explaining the consumption decline during the Great Recession, and they assert that consumption dropped the most for heavily indebted homeowners.”
Are employee-friendly workplaces conducive to innovation? (2016, methodology): “Following the insights from recent studies (Mian and Sufi, 2011; Mian et al., 2013; Mian and Sufi, 2014), we exploit state differences in the house price collapse to capture the cross-sectional variation in the severity of economic distress and investigate the effect of workplace quality on the…”
Collateral Constraints and Macroeconomic Asymmetries (2013, neutral): “Recent contributions include Case, Quigley, and Shiller (2005), Campbell and Cocco (2007), Mian and Sufi (2011), Mian, Rao, and Sufi (2012), and Abdallah and Lastrapes (2012).”
Regulating Household Leverage (2019, background): “Our article contributes to a large literature evaluating the effects of various policy responses to the financial crisis and Great Recession.”
Trickle-Down Consumption (2016, neutral): “The evidence we have put together suggests that there might indeed be an economically relevant link.”