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Keywords:Households - Finance 

Journal Article
Household financial stress and home prices

The Regional Economist , Issue Jan

Periodic Essay
Still digging out: real net worth per household has rebounded 63 percent since hitting bottom in early 2009

Short essays related to research on understanding and strengthening the balance sheets of American households.
In the Balance , Issue 4

Journal Article
Household financial stability: who suffered the most from the crisis?

The financial crisis and ensuing recession took a toll on just about everybody?s household wealth. Not surprisingly, the pain wasn?t evenly distributed. Those groups that are usually the most vulnerable in our society?young and middle-aged minority households?suffered the most, percentage-wise.
The Regional Economist , Issue Jul

The recovery and monetary policy

Remarks at the National Association for Business Economics Annual Meeting, New York City.
Speech , Paper 89

A new trend for U.S. household spending

Holiday sales are expected to be weak again this year even though the economy and financial markets are improving. Shoppers are especially reluctant to use credit cards for holiday purchases. According to the National Retail Federation's 2009 Consumer Intentions and Action Survey, only 28.3 percent of holiday shoppers will use credit cards; this is 10.6 percent lower than one year ago. Why are shoppers so hesitant to use their credit cards this year? Many factors are involved. Read the January 2010 Newsletter for the answers.
Liber8 Economic Information Newsletter , Issue January

Journal Article
Buy a home or rent? A better way to choose

Knowing whether buying a home is a better financial move for a family than renting requires a consideration of costs and options that people often neglect to factor in. One aspect of the calculation that is almost always overlooked is uncertainty--the fact that no matter how good one's estimates of the future are, the future can turn out differently than projected. Incorporating uncertainty into the rent-or-buy calculation gives potential homebuyers information that can improve their decisions. While incorporating uncertainty is complicated, it's made easier with the Cleveland Fed's online ...
Economic Commentary , Issue Apr

Periodic Essay
The nation's wealth recovery since 2009 conceals vastly different balance-sheet realities among America's families

Short essays related to research on understanding and strengthening the balance sheets of American households.
In the Balance , Issue 3 , Pages 1-2

Journal Article
The relationship between leverage and household spending behavior: evidence from the 2007-2009 survey of consumer finances

Some recent studies suggest that high levels of household debt and leverage have contributed to the relatively sluggish growth of consumer spending in the past few years (Dynan, 2012; Mian, Rao, and Sufi, 2013). However, this conclusion has not been widely accepted because of the empirical challenges associated with identifying the relationship amid the dramatic and complicated changes in the household economic environment during the Great Recession and subsequent slow recovery. Leverage may indirectly influence spending by increasing borrowing constraints, impeding refinancing, and raising ...
Review , Issue Sep , Pages 425-448

Journal Article
The current state of U.S. household balance sheets

The Board of Governors of the Federal Reserve System is responsible for two of the most widely used datasets containing information about U.S. household balance sheets: the quarterly macro-level Financial Accounts of the United States (FA, formerly known as the Flow of Funds Accounts) and the triennial microlevel Survey of Consumer Finances (SCF). The FA is very timely, but the data can be used only to describe the household sector as a whole. The SCF provides the micro-level detail needed to capture heterogeneity in household finances, but the data are available only with a long lag. The ...
Review , Issue Sep , Pages 337-359

Working Paper
Should defaults be forgotten? Evidence from legally mandated removal

Swedish law mandates the removal of information about past credit arrears from the individuals? credit reports after three years. By exploiting a quasi-experimental variation in retention times caused by a change in the credit bureau?s timing of arrear removal, we are able to examine the causal effect of increased retention time on consumers' short- to medium-run credit scores, loan applications, credit access, and future defaults.> We find that a prolonged retention time increases the need for and access to credit relative to shorter retention times. Additionally, prolonged retention times ...
Working Papers , Paper 12-29


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