We confirm the negative relationship between household debt and future GDP growth documented in Mian, Sufi, and Verner … relationship. First, debt overhang impairs household consumption when negative shocks hit. Second, increases in household debt … be systematically neglected due to investors' overoptimistic expectations associated with household debt booms. In …

of other contributions to well-being, including those of household wealth. Wealth is important in providing security and …. We find, however, that it is precisely in the latter countries where household wealth is the lowest, both in absolute and …

. -- household wealth ; housing subsidy scheme ; house price …