Advanced economies with the largest rise in household debt from 2000 to 2007, such as Ireland, Spain, and the United States, experienced the most severe downturns during the Great Recession. Current economic difficulties in Brazil, China, and Thailand were also preceded by a borrowing binge by households.
In this talk, Professor Sufi highlighted the importance of household debt in driving business cycles, both in the United States and abroad.
Reception: 5:30 p.m.
Talk: 6:00 p.m.
353 North Clark Street, Chicago
This event is cosponsored by the Initiative on Global Markets at Chicago Booth.