Figures 16.3 and 16.4 show household debt as a percentage of GDP and the personal saving rate.
Question:
(a) Using the FRED database hosted by the Federal Reserve Bank of St. Louis, obtain the latest values for these two statistics. How has the ratio of household debt to GDP changed since 2007? What about the personal saving rate? (Hint: search for the codes CMDEBT, GDP, and PSAVERT.)
(b) Discuss some possible explanations for these changes.
Figures 16.3
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Figures 16.4
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a In the following table the savings rates were derived from ...View the full answer
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