We explore the role of consumer risk appetite in the initiation of credit cycles and as an early trigger of the U.S. mortgage crisis. We analyze a panel data set of mortgages originated between the years 2000 and 2009 and follow their performance up to 2014. After controlling for all the usual...

This book brings together a diverse set of expert scholars to enliven and sharpen the debate about the ways in which consumption affects society today. Research on consumption can shed light on many fundamental questions, such as the character of society, including social and cultural...