Household Debt, Corporate Debt, and the Real Economy: Some Empirical Evidence
The research indicates that the buildup of corporate debt causes more financial peaks than the buildup of household debt in both groups of countries. But in emerging market economies, findings suggest that recessions induced by corporate debt inflict more damage on output than those induced by household debt.
- Literature Review
- Household and Corporate Debts, Asset Prices, and Economic Growth
- Normal Peaks versus Financial Peaks
- Concluding Observations