TY  - JOUR
AU  - Parker, Jonathan A
TI  - LEADS on Macroeconomic Risks to and from the Household Sector
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 18510
PY  - 2012
Y2  - November 2012
DO  - 10.3386/w18510
UR  - http://www.nber.org/papers/w18510
L1  - http://www.nber.org/papers/w18510.pdf
N1  - Author contact info:
Jonathan A. Parker
MIT Sloan School of Management
100 Main Street, E62-642
Cambridge, MA  02142-1347
Tel: 617-253-7218
E-Mail: JAParker@MIT.edu
M1  - published as Jonathan A. Parker. "LEADS on Macroeconomic Risks to and from the Household Sector," in Markus Brunnermeier and Arvind Krishnamurthy, editors, "Risk Topography: Systemic Risk and Macro Modeling" University of Chicago Press (2014)

M3  - presented at "Systemic Risk and Macro Modeling", April 28, 2011
AB  - This chapter describes a system, called the LEADS system, for providing market participants, regulators, and households with information on the reallocation of resources within, from, and to the household sector in response to macroeconomic events. The household sector is both a propagator of shocks to the economy, as wealth is redistributed across households with differing propensities to consume, and an originator of risky claims held in systemically important places, as losses are shifted from households to creditors such as financial institutions. Information about these exposures, like information generally, is conveyed by prices and so is under-produced by markets. The LEADS system - collection, analysis, and distribution of information on household exposures to macroeconomic risk factors - can potentially lead to better macroeconomic performance through better informed public policy and private decision- making
ER  -