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Replication data for: "Fisher Dynamics" in US Household Debt, 1929-2011

Version
V0
Resource Type
Dataset
Creator
  • Mason, J. W.
  • Jayadev, Arjun
Publication Date
2014-07-01
Description
  • Abstract

    The evolution of debt-income ratios over time depends on income growth, inflation, and interest rates, independent of any changes in borrowing. We examine the effect of these "Fisher dynamics" on household debt-income ratios in the United States over the period 1929–2011. Adapting a standard decomposition of public debt to household sector debt, we show that these factors explain, in accounting terms, a large fraction of the changes in household debt-income ratios observed historically. More recently, debt defaults have also been important. Changes in household debt-income ratios over time cannot be straightforwardly interpreted as reflecting shifts in the supply and demand of household credit.
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Relations
  • Is supplement to
    DOI: 10.1257/mac.6.3.214 (Text)
Publications
  • Mason, J. W., and Arjun Jayadev. “‘Fisher Dynamics’ in US Household Debt, 1929–2011.” American Economic Journal: Macroeconomics 6, no. 3 (July 2014): 214–34. https://doi.org/10.1257/mac.6.3.214.
    • ID: 10.1257/mac.6.3.214 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-12-07

Mason, J. W.; Jayadev, Arjun (2014): Replication data for: "Fisher Dynamics" in US Household Debt, 1929-2011. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E116431