出版社：LLC “Consulting Publishing Company “Business Perspectives”
摘要：US household debt increased on a yearly basis from 1987 to 2007.In addition,household debt in the USA nearly doubled between 2000 and 2007,from $5.6 trillion to $9 trillion.This came to an abrupt end in 2009 with the crash of the financial market.This paper employs the bound test and Auto-regressive Distributed Lag Model to determine the long-run relationship between US household debt and consumer prices,housing prices,the unemployment rate,and the lending rate.Unit root tests were conducted first to ascertain the stationarity of the variables.E-views 11 was used in the analysis of the data,which was obtained from Q1:1990 to Q1:2007 from the International Monetary Fund and the US FED.It was found that in the long run,there is a nega?tive effect of consumer prices and unemployment on US household debt,while house prices and the lending rate would have a positive effect on household debt.
关键词：household debt;Auto-regressive Distributed Lag Model;bound test;unit root tests;housing prices;unemployment
