Governor's Woods Foundation Makes Gift to Macrofinance Lab

Monday, Sep 16, 2019

The Philadelphia-based Governor's Woods Foundation has made a generous gift to the Julis-Rabinowitz Center's Macrofinance Lab. The gift will support the lab's research, in particular, the work sectoral debt led by postdoctoral associate Karsten Mülller.

Mülller's work uses a new dataset to examine how credit markets have evolved around the world over the past 70 years. To develop this dataset, Mueller digitized reams of paper data on credit to the private sector for 120 countries between 1940-2014, as well as total credit going back to 1910. In his working paper, he finds that while corporate lending relative to GDP has remained constant since roughly 1980, household borrowing over the last 50 years--specifically mortgages and consumer credit--has climbed sharply.

This dataset and others will be freely available for research and replication purposes through the Macrofinance Lab website and open-source platform that Mülller and colleagues are building.

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