Household Debt Overhang and Transmission of Monetary Policy
Abstract
During past recessions like the Great Recession, policy makers sought to boost the economy through fiscal and monetary policy changes. Taking into account the economy’s slow recovery, how effective were the monetary policy changes? This article summarizes working paper 1806, where PERC professor Sarah Zubairy and coauthor Sami Alpanda investigate whether the prevailing level of household debt can lower the effectiveness of the transmission of monetary policy.
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Citation
Zubairy, Sarah; Alpanda, Sami (2018). Household Debt Overhang and Transmission of Monetary Policy. Private Enterprise Research Center, Texas A&M University; Texas A&M University. Library. Available electronically from https : / /hdl .handle .net /1969 .1 /199318.