Journal Article
Global household leverage, house prices, and consumption
Abstract: Household leverage in the United States and many industrial countries increased dramatically in the decade prior to 2007. Countries with the largest increases in household leverage tended to experience the fastest rises in house prices over the same period. These same countries tended to experience the biggest declines in household consumption once house prices started falling.
Keywords: Housing - Prices; Financial leverage; Consumer behavior; Consumption (Economics); Households - Economic aspects;
Access Documents
File(s): File format is application/pdf http://www.frbsf.org/publications/economics/letter/2010/el2010-01.pdf
File(s): File format is text/html http://www.frbsf.org/publications/economics/letter/2010/el2010-01.html
Authors
Bibliographic Information
Provider: Federal Reserve Bank of San Francisco
Part of Series: FRBSF Economic Letter
Publication Date: 2010
Order Number: 01