John Mondragon

TL;DR: The authors showed that low-income households in high-inequality regions accumulated less debt relative to income than their counterparts in lower-inquality regions, which negates the hypothesis that low income households increased their demand for credit to finance higher consumption expenditures in order to "keep up" with higher income households.

TL;DR: In this article, the elasticity of employment with respect to household credit and the size of the credit supply shock to households were estimated, and it was shown that the contraction in the supply of credit to households contributed to the decline in employment during the Great Recession.

TL;DR: This paper studied the effect of the ability-to-repay rule on the price and availability of credit in the U.S. mortgage market and found that the policy had only moderate effects on prices, increasing interest rates on affected loans by 10 to 15 basis points.

TL;DR: This article showed that low-income households in high-inequality regions accumulated less debt relative to income than their counterparts in lower-inquality regions, which negates the hypothesis that low income households increased their demand for credit to finance higher consumption expenditures in order to "keep up" with higher income households.

TL;DR: Coibion et al. as discussed by the authors show that low-income households in high-inequality regions (zip codes, counties, states) accumulated less debt relative to their income than low- income households in lower inequality regions.