examined the ameliorating effects of economic literacy on the probability of specific household financial outcomes resulting …, delinquent credit card payments, delinquent auto loan payments, loss of home, and personal bankruptcy. The head-of-household …

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 …