18 November 2011

Household Debt Contributes to Unemployment

Calculatead Risk points us to an article by Amir Sufi, Atif Mian and Kamalesh Rao who find that "consumption shock due to weak balance sheets explains 65% of job losses from 2007 to 2009". Also check out the graph below displaying employment growth across countries in the period 2007-2009.


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