Tag Archives: Mortgages

Household Debt and the Dynamic Effects of Income Tax Changes

From James Cloyne and Paolo Surico: This paper investigates a new channel in the transmission of fiscal policy: household debt. Using a long span of expenditure survey data and a new narrative measure of exogenous income tax changes for the UK, … Continue reading

Posted in Uncategorized | Tagged , , , , , , , , , , , , , | 1 Comment

The Growth of Modern Finance

From Robin Greenwood and David Scharfstein: Whether the growth of the financial sector has been beneficial to society depends in large part on the social benefits of active asset management, the increase in household credit, and the growth of shadow banking. … Continue reading

Posted in Uncategorized | Tagged , , , , , | Leave a comment