Bruno, Albuquerque; Ursel, Baumann; Georgi, Krustev - In: The B.E. Journal of Macroeconomics 15 (2015) 1, pp. 53-53
The balance sheet adjustment in the household sector was a prominent feature of the Great Recession that is widely believed to have held back the cyclical recovery of the US economy. A key question for the US outlook is therefore whether household deleveraging has ended or whether further...