The main point of House of Debt explains the relationship between the cause of 2008 financial crisis and abnormally high household debt in 2000s. The elevated household indebtedness and declined housing price cause the consumption and economic growth to decline.
House of Debt 整本書的核心觀點：解釋2008年金融海嘯的成因，和美國家庭債務在2000年後異常的提高，這兩者間有很大關連，由於債務提高加上房價不再上漲而開始下跌，使得消費力的降低進而導致整體經濟的衰退。
Amir Sufi and Atif Mian are the rising stars in the financial economics field and they both graduated from MIT economics PhD. Sufi currently is the professor at Chicago Booth while Mian works at Princeton economics. I know their research since we need to read their studies in my previous finance PhD coursework and my research professional application was under review in their research institution last year.
兩位作者Amir Sufi和Atif Mian都是財金研究中生代的佼佼者，兩人都畢業於MIT經濟博士，現在分別在芝加哥Booth商學院和普林斯頓經濟系任教，前者也是這幾年John Bates Clark Medal的有力競爭人選，由於去年我也丟了兩人分別所領導的研究中心的助理職缺，再加上之前博班課時常提到他們的研究，所以對於他們的研究一直有在關心。
不過House of Debt 這本書的中文翻譯成"窮人為什麼變更窮?" 其實是有點突兀，“窮人為什麼變更窮?”和“金融海嘯為何產生?”這兩者都可以用書名"House of Debt"來說明，只不過筆者認為作者的研究動機，從他的副標應該說明的很清楚"How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again"
Photo: House of Debt Website
Amir Sufi and Atif Mian are the rising stars in the financial economics field and they both graduated from MIT economics PhD. Sufi currently is the professor at Chicago Booth while Mian works at Princeton economics. I know their research since we need to read their studies in my previous finance PhD coursework and my research professional application was under review in their research institution last year.
兩位作者Amir Sufi和Atif Mian都是財金研究中生代的佼佼者，兩人都畢業於MIT經濟博士，現在分別在芝加哥Booth商學院和普林斯頓經濟系任教，前者也是這幾年John Bates Clark Medal的有力競爭人選，由於去年我也丟了兩人分別所領導的研究中心的助理職缺，再加上之前博班課時常提到他們的研究，所以對於他們的研究一直有在關心。
不過House of Debt 這本書的中文翻譯成"窮人為什麼變更窮?" 其實是有點突兀，“窮人為什麼變更窮?”和“金融海嘯為何產生?”這兩者都可以用書名"House of Debt"來說明，只不過筆者認為作者的研究動機，從他的副標應該說明的很清楚"How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again"
Photo: House of Debt Website