Princeton professor warns about ‘House of Debt’
Daniel JohnsonWhile new financial regulation has focused on bank oversight and risk management, economics and Wilson School professor Atif Mian and professor of finance at the University of Chicago Booth School of BusinessAmir Sufi argue in an upcoming book that not enough attention has been paid to the role of high levels of private, household debt in the Great Recession. “The profession at-large and also the policy side have severely underestimated the importance of debt for the whole of the economy,” Mian explained. Their book, called "House of Debt," is complemented by anew blogthat bears the same title and debuted inMarch.






