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2 posts on "Household"
March 6, 2025

When the Household Pie Shrinks, Who Gets Their Slice?

Jacob Conway, Natalia Fischl-Lanzoni, and Matthew Plosser

Image: Write some checks to make payments for household expenses

When households face budgetary constraints, they may encounter bills and debts that they cannot pay. Unlike corporate credit, which typically includes cross-default triggers, households can be delinquent on a specific debt without repercussions from their other lenders. Hence, households can choose which creditors are paid. Analyzing these choices helps economists and investors better understand the strategic incentives of households and the risks of certain classes of credit.

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Posted at 7:00 am in Credit, Household Finance | Permalink
April 16, 2020

How Widespread Is the Impact of the COVID‑19 Outbreak on Consumer Expectations?

Olivier Armantier, Gizem Koşar, Rachel Pomerantz, Daphne Skandalis, Kyle Smith, Giorgio Topa, and Wilbert van der Klaauw

In a recent blog post, we showed that consumer expectations worsened sharply through March, as the COVID-19 epidemic spread and affected a growing part of the U.S. population. In this post, we document how much of this deterioration can be directly attributed to the coronavirus outbreak. We then explore how the effect of the outbreak has varied over time and across demographic groups.

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Posted at 11:00 am in Expectations, Household Finance, Labor Market, Pandemic | Permalink

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Liberty Street Economics features insight and analysis from New York Fed economists working at the intersection of research and policy. Launched in 2011, the blog takes its name from the Bank’s headquarters at 33 Liberty Street in Manhattan’s Financial District.

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