Dynamics of Housing Debt in the Recent Boom and Great Recession

Manuel Adelino, Antoinette Schoar, Felipe Severino

NBER Working Paper No. 23502
Issued in June 2017, Revised in October 2017

---- Acknowledgments ----

We thank the editors, Martin Eichenbaum and Jonathan Parker, and our discussants, Erik Hurst and Gianluca Violante, for very insightful comments and suggestions. We also benefited from many helpful discussions with participants at the NBER Macro Annual Meeting. All mistakes are of course our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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