Amir Sufi

Although low interest rates have traditionally been viewed as positive for economic growth, this may not be the case anymore. Instead, they may lead to slower growth by increasing market concentration and weakening firms' incentive to boost productivity

Although low interest rates have traditionally been viewed as positive for economic growth, this may not be the case anymore. Instead, they may lead to slower growth by increasing market concentration and weakening firms' incentive to boost productivity

Credit-supply expansions play a key role in subsequent recessions. Households take on more debt when lenders make it more available or more affordable, which drives up aggregate demand – that is, until the music stops

Credit-supply expansions play a key role in subsequent recessions. Households take on more debt when lenders make it more available or more affordable, which drives up aggregate demand – that is, until the music stops

McKinsey & Co takes an indepth look at possible new approaches to deleveraging, plus managing and monitoring debt in a debt saturated world

McKinsey & Co takes an indepth look at possible new approaches to deleveraging, plus managing and monitoring debt in a debt saturated world