Rising income inequality since the 1980s in the United States has generated a substantial increase in saving by the top … across states shows that the rise in top income shares can explain almost all of the accumulation of household debt held as a … financial asset by the household sector. Since the Great Recession, the saving glut of the rich has been financing government …

This paper studies the secular increase in U.S. household debt and its relation to growing income inequality and … financial fragility. We exploit a new household-level dataset that covers the joint distributions of debt, income, and wealth in … borrowed against the sizable housing wealth gains from rising home prices. Home equity borrowing accounts for about half of the …

This paper studies the secular increase in U.S. household debt and its relation to growing income inequality and … financial fragility. We exploit a new household-level dataset that covers the joint distributions of debt, income, and wealth in … borrowed against the sizable housing wealth gains from rising home prices. Home equity borrowing accounts for about half of the …

This paper studies the secular increase in U.S. household debt and its relation to growing income inequality and … financial fragility. We exploit a new household-level data set that covers the joint distributions of debt, income, and wealth …-class families borrowed against the sizable housing wealth gains from rising home prices. Home equity borrowing accounts for about …