Abstract

http://ssrn.com/abstract=1626005
 
 

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The Great Recession: Lessons from Microeconomic Data


Atif R. Mian


Princeton University - Department of Economics; Princeton University - Woodrow Wilson School of Public and International Affairs; NBER

Amir Sufi


University of Chicago - Booth School of Business; NBER

June 16, 2010


Abstract:     
We highlight how a micro-level analysis of the Great Recession provides us with important clues to understand the origins of the crisis, the link between credit and asset prices, the feedback effect from asset prices to the real economy, and the role of household leverage in explaining the downturn. We hope that our discussion also serves as an example of the usefulness of incorporating microeconomic data and techniques in answering traditional macroeconomic questions.

Number of Pages in PDF File: 12

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Date posted: June 17, 2010  

Suggested Citation

Mian, Atif R. and Sufi, Amir, The Great Recession: Lessons from Microeconomic Data (June 16, 2010). Available at SSRN: http://ssrn.com/abstract=1626005 or http://dx.doi.org/10.2139/ssrn.1626005

Contact Information

Atif R. Mian (Contact Author)
Princeton University - Department of Economics ( email )
Princeton, NJ 08544-1021
United States
Princeton University - Woodrow Wilson School of Public and International Affairs ( email )
Princeton University
Princeton, NJ 08544-1021
United States
NBER
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Amir Sufi
University of Chicago - Booth School of Business ( email )
5807 S. Woodlawn Avenue
Chicago, IL 60637
United States
NBER
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
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