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Cited by 1,161

The DOI matches its Crossref record; 4 of the 4 references it cites were found in a registry or an index.

House Prices, Home Equity–Based Borrowing, and the US Household Leverage Crisis

Mian, Atif, Sufi, Amir·2011·American Economic Review
DOI 10.1257/aer.101.5.2132
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Abstract

Borrowing against the increase in home equity by existing homeowners was responsible for a significant fraction of the rise in US household leverage from 2002 to 2006 and the increase in defaults from 2006 to 2008. Instrumental variables estimation shows that homeowners extracted 25 cents for every dollar increase in home equity. Home equity–based borrowing was stronger for younger households and households with low credit scores. The evidence suggests that borrowed funds were used for real outlays. Home equity–based borrowing added $1.25 trillion in household debt from 2002 to 2008, and accounts for at least 39 percent of new defaults from 2006 to 2008. JEL: D14, R31

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Metadata

Authors
Mian, A., & Sufi, A.
Venue
American Economic Review
Publisher
American Economic Association
Published
2011-08-01
Volume
101
Issue
5
Pages
2132-2156
ISSN
0002-8282 (ISSN-L)
DOI
10.1257/aer.101.5.2132
OpenAlex
W3122746602
Cited by
1,161
References
4
FWCI
140.88
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: House Prices, Home Equity–Based Borrowing, and the US Household Leverage Crisis. https://app.cochat.ai/papers/10.1257/aer.101.5.2132
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Mian, A., & Sufi, A. (2011). House Prices, Home Equity–Based Borrowing, and the US Household Leverage Crisis. American Economic Review. https://doi.org/10.1257/aer.101.5.2132

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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

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