| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16999 |
| 来源ID | Working Paper 16999 |
| Household Debt and Saving During the 2007 Recession | |
| Rajashri Chakrabarti; Donghoon Lee; Wilbert van der Klaauw; Basit Zafar | |
| 发表日期 | 2011-04-28 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | Using administrative credit report records and data collected through several special household surveys we analyze changes in household debt and savings during the 2007 recession. We find that while different segments of the population were affected in distinct ways, depending on whether they owned a home, whether they owned stocks and whether they had secure jobs, the crisis' impact appears to have been widespread, affecting large shares of households across all age, income and education groups. In response to their deteriorated financial situation, households reduced their average spending and increased saving. The latter increase - at least in 2009 - did not materialize itself through an increase in contributions to retirement and savings accounts. If anything, such contributions actually declined on average during that year. Instead, the higher saving rate appears to reflect a considerable decline in household debt, with households paying down mortgage debt in particular. At the end of 2009 individuals expected to continue to increase saving and pay down debt, which is consistent with what we have observed so far in 2010. In contrast, consumers were pessimistic about the availability of credit, with credit expected to become harder to obtain during 2010. |
| 主题 | Microeconomics ; Households and Firms ; Behavioral Economics ; Financial Economics |
| URL | https://www.nber.org/papers/w16999 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574673 |
| 推荐引用方式 GB/T 7714 | Rajashri Chakrabarti,Donghoon Lee,Wilbert van der Klaauw,et al. Household Debt and Saving During the 2007 Recession. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w16999.pdf（485KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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