Household Leverage and the Recession of 2007 to 2009
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We show that household leverage as of 2006 is a powerful statistical predictor of the severity of the 2007 to 2009 recession across U.S. counties. Counties in the U.S. that experienced a large increase in household leverage from 2002 to 2006 showed a sharp relative decline in durable consumption
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美国国家经济研究局创建时间：
2010-04-01
