Board of Governors of the Federal Reserve System

debt both domestically and abroad. This heterogeneity introduces the possibility...Debt, External Debt, Credit, Imports. DOI: https://doi.org/10.17016/IFDP

GDP) growth, the unemployment rate, and changes in the prices of goods...GDP is not well understo

debt-to-income ratios. In contrast, the levels of business debt continue...GDP, with the riskiest firms accounting for most of the increase in debt

debt, allowing taxes to respond to the level of productivity, in order...debt. We show that a procyclical tax on housing or debt improves welfare

GDP) in the first half of the year came from a continued turn in the inventory...to: Domestic Developments The Household Sector The Business Sector The

GDP increased nearly 4 percent over the four quarters of 1997. Household...debt and by some lenders that they needed to tighten selectively their

debt. Household debt increased at a 4.1% pace, reflecting continued steady...GDP was 256% in the third quarter, about the same as in recent quarters

debt. Household debt increased at a 4.1% pace, reflecting continued steady...GDP was 256% in the third quarter, about the same as in recent quarters

debt. Household debt increased at a 4.1% pace, reflecting continued steady...GDP was 256% in the third quarter, about the same as in recent quarters

price-to-earnings multiples. I argue, however, that the boost to profits...debt-to-GDP near all- time highs, another deficit-financed cut in corporate