Conference Materials

"Tipping Points" Executive Summary — Ray Boshara

Introduction

• William R. Emmons and Lowell R. Ricketts, Federal Reserve Bank of St. Louis 
  Paper: “Household Debt at the Tipping Point: When and Why Does Household Borrowing Hurt the Economy?” (PDF)

Session 1 — Household Debt and Financial Instability

• Moritz Schularick, Professor of Economics, University of Bonn 
  Paper: “The Great American Debt Boom, 1949-2013” (PDF)

Session 2 — The Impact of Household Debt on Consumption/Investment

• Marco Jacopo Lombardi, Senior Economist, Bank for International Settlements 
  Paper: “The Real Effects of Household Debt in the Short and Long Run" (PDF)
• Atif Mian, Professor of Economics, Princeton University 
  Paper: “How Do Credit Supply Shocks Affect the Real Economy? Evidence from the United States in the 1980s” (PDF)

Featured Speaker

• Karen Dynan, Professor of Practice, Department of Economics, Harvard University; Nonresident Senior Fellow, Peterson Institute for International Economics 
  Remarks: “The Evolving U.S. Economy and Household Debt” (PDF) | Presentation (PDF)

Session 3 — Reversing the Tipping Point: Repairing the Household Balance Sheet and Restoring Economic Growth

• J.W. Mason, Assistant Professor of Economics, John Jay College of Criminal Justice 
  Paper: "Income Distribution, Household Debt, and Aggregate Demand: A Critical Assessment" (PDF)
• Barry Cynamon, Visiting Scholar, Center for Household Financial Stability, Federal Reserve Bank of St. Louis  
  Paper: “Reversing the Tipping Point?” (PDF)