Is Income Inequality Slowing Debt Growth?

January 19th, 2014
in econ_news

Econintersect: Have you ever wondered whether “keeping up with the Joneses” was a significant force behind the great leveraging of households debt leading up to the Great Recession? Was the growth in household borrowing during the mid-2000s driven by credit supply expansions targeted toward lower-income households? How about income inequality - is it slowing debt growth?

Follow up:

In this study, it is best to read the introduction and conclusion first - and then look for the supporting evidence.

[click on image to read study]

source: http://www.richmondfed.org/publications/research/working_papers/2014/pdf/wp14-01.pdf









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