Household debt and recession in Brazil by Gabriel Garber, Atif Mian, Jacopo Ponticelli and Amir Sufi published by NBER (10/2018). “Brazil experienced one of the most severe recessions in its history from 2014 to 2016. Following a pattern shown for previous economic downturns in other countries, the Brazilian recession was preceded by a substancial increase in household debt from 2003 to 2014…”
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