Tipping Points: Mapping and Understanding the Impact of Debt on Household Financial Well-Being and Economic Growth
Original Conference Held:
June 9, 2016
The Private Debt Project and the Center for Household Financial Stability of the St. Louis Federal Reserve Bank are pleased to present here the papers from their conference on, "Tipping Points: Mapping and Understanding the Impact of Debt on Household Financial Well-Being and Economic Growth." The Conference was the first of two research symposia focusing on the economics of household debt in the United States. The overall purpose of this joint effort is to advance a better understanding of when debt reaches a "tipping point" for different households and for the economy as a whole—i.e., when it moves from being a positive contribution to household financial well-being to a negative drag on well-being and when it moves from making a positive contribution to economic growth to being a threat to growth.
Table of Contents
I. Ray Boshara, Federal Reserve Bank of St. Louis.
II. William R. Emmons and Lowell R. Ricketts, Center for Household Financial Stability, Federal Reserve Bank of St. Louis.
"The Demographics of Loan Delinquency: Tipping Point or Tip of the Iceberg?"
III. Carlos Garriga, Lowell R. Ricketts, Don E. Schlagenhauf, Federal Reserve Bank of St. Louis.
"Identifying Tipping Points in Consumer Liabilities Using High-Frequency Data"
IV. Daniel Alpert, Westwood Capital and Century Foundation, and Robert Hockett, Cornell Law School and the Century Foundation.
"The Debt Goes On: A Post-Crisis "Progress" Report"
V. Neil Bhutta, Federal Reserve Board Benjamin J. Keys, Harris School of Public Policy University of Chicago.
"Interest Rates and Equity Extraction During the Housing Boom"
VI. Daniel H. Cooper, Federal Reserve Bank of Boston, Barry Z. Cynamon, Center for Household Financial Stability, and Steven M. Fazzari, Washington University in St. Louis.
"The Sustainability of U.S. Household Finances"
VII. Paul Willen, Chris Foote, and Lara Loewenstein, Federal Reserve Bank of Boston.
"Cross-Sectional Patterns of Mortgage Debt during the Housing Boom: Evidence and Implications"