Is a Household Debt Overhang Holding Back Consumption?

By Karen E. Dynan. 2012

360 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/830088b10a94d4c96eca9f0905690b0c63e5bb26

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Citations in the corpus

Pandemic, Mobile Payment, and Household Consumption: Micro-Evidence from China (2020, background): “Moreover, according to Dynan (2012) and Kukk (2016), household income and asset variables largely reflect the family’s economic situation and determines its consumption ability. Thus, we include them in our model. Moreover, to capture the impact of inherent differences or heterogeneity (such as cult”
Monetary Policy, the Financial Cycle and Ultralow Interest Rates (2016, background): “Instead, our main aim is to tease out the system’s basic dynamics 12 The negative effect of a high debt service burden on household consumption has been shown by eg Johnson and Li (2010) and Dynan (2012).”
Household Debt and the Dynamic Effects of Income Tax Changes (2017, background): “On the empirical side, Mian et al. (2012), Dynan (2012) and the IMF (2012) report that household leverage is likely to have amplified and prolonged the Great Recession of 2007–09.”
Income Changes and Consumption: Evidence from the 2013 Federal Government Shutdown (2015, background): “Baker (2014), Mian, Sufi, and Rao (2013) and Dynan (2012).”
Fiscal Policy and MPC Heterogeneity (2014, methodology): “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).”
Debt and the Consumption Response to Household Income Shocks (2015, background): “[9] Dynan, Karen Is a Household Debt Overhang Holding Back Consumption?.”
Does Infrastructure Investment Lead to Economic Growth or Economic Fragility? Evidence from China (2016, neutral): “The debt of corporations, households, and financial institutions also has a bearing on the economic prospects of a country (Dynan et al. , 2012; Sutherland et al. , 2012).”
Asymmetric Consumption Effects of Transitory Income Shocks* (2019, neutral): “Reassuringly, the magnitudes of the average MPCs on non-durables are consistent with the estimated average MPCs out of transitory income shocks reported in Johnson et al. (2009), Parker et al. (2013) and, for the case of the Netherlands, Carroll et al.”
The impact of digital finance on household consumption: Evidence from China (2020, background): “Additionally, debts are also an important factor that affects consumption (Dynan et al., 2012; Scholnick, 2013).”
Collateral Constraints and Macroeconomic Asymmetries (2013, neutral): “Using PSID data, Dynan (2012) also finds that high leverage appears to be associated with weak consumption growth.”
Inequality, the Great Recession, and Slow Recovery (2014, neutral): “…was predicted by Hyman Minsky’s financial instability theory (see Minsky, 1986, along with Wray, 2008, and Dymski, 2010).12 Mian and Sufi (2010b) and Dynan (2012) provide evidence that high debt accumulated by households prior to the Great Recession caused lower consumption when the recession hit.”