, Jordan, the Netherlands, Mauritius, Slovenia, Spain, Sweden and Uruguay. It also refers to other relevant country experiences …, including those of Australia, Denmark, Finland, the United Kingdom and the United States. Examines the economic and political …

We use a quantitative equilibrium model with houses, collateralized debt and foreign borrowing to study the impact of … for between one fourth and one third of the increase in U.S. house prices and household debt that preceded the financial …

observations: the unprecedented rise in home prices and household debt, the stability of debt relative to house values, and the …

expected credit losses, are responsible for these features. Building on the idea that corporate debt, while safe in ordinary …

71 percent of GDP in 1982. A borrowing surge followed: Household debt increased from 43 to 62 percent of GDP in the 1982 …