Can reforms to public and private credit provisions bolster social insurance and promote more equitable growth?

Project Summary:

Rising inequality has two implications for individuals’ ability to rebound from temporary setbacks and contribute to economic growth: poorer households don’t have savings to fall back on during temporary income losses, and richer households are able to self-insure and find social insurance programs less valuable. This research will investigate whether and how credit policies could help lower-income individuals better weather shocks and contribute to economic growth.


Pascal Noel is a Ph.D. candidate in economics at Harvard University. His research focuses on public economics, household finance, and macroeconomics. In particular, he is examining how public policies help households cope with financial stresses such as job loss and underwater mortgage debt.