Household debt and recession in Brazil

Gabriel Garber, Atif Mian, Jacopo Ponticelli, Amir Sufi

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

Brazil experienced one of the most severe recessions in its history from 2014 to 2016. Following a pattern shown for previous economic downturns in other countries, the Brazilian recession was preceded by a substantial increase in household debt from 2003 to 2014. This study utilizes a novel individual level data set on household borrowing in order to provide details of the household debt boom. The data set allows for a decomposition of the rise in household debt by the type of debt and by the source of debt, and it allows for an analysis of the income of individuals taking on more debt during the boom. We conclude with an exploration of potential causes of the rise in household debt.

Original languageEnglish (US)
Title of host publicationHandbook of US Consumer Economics
PublisherElsevier
Pages97-119
Number of pages23
ISBN (Electronic)9780128135242
ISBN (Print)9780128135259
DOIs
StatePublished - Jan 1 2019

Keywords

  • Credit expansion
  • Credit registry
  • Government-controlled banks

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)
  • Business, Management and Accounting(all)

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    Garber, G., Mian, A., Ponticelli, J., & Sufi, A. (2019). Household debt and recession in Brazil. In Handbook of US Consumer Economics (pp. 97-119). Elsevier. https://doi.org/10.1016/B978-0-12-813524-2.00004-4