This directory has the programs and data used to generate the tables and charts in
"Is A Household Debt Overhang Holding Back Consumption?" by Karen Dynan.

Final tables and figures for the paper
--------------------------------------

To generate Tables 1-8 and Figures 4-5, run the Stata program 
"run_bpea_dynan.do" These programs draw data from bpea_data.dta. You 
will need to modify "run_bpea_dynan.do" such that it references the 
directory that you are working in.

Figures 1-3 were drawn with Excel; they can be found in the spreadsheet
figure123_dynan.xls. The data for these figures were drawn from Haver databases, 
but they are publicly available, with the sources in the figure notes.


Creating the PSID data set
--------------------------
The program "make_bpea_data" created bpea_data.dta It is included in this file,
but it can't actually be run because I did not include the intermediate data sets 
it uses for space reasons. Those data sets, in turn, were created by an extensive 
system of intermediate Stata and SAS programs that extract and process information 
from files downloaded from the PSID website. For reference, those programs are 
included in the "PSID" sub-directory. To see how variables like consumption, 
net worth, loan balances,and required loan payments were constructed, see the 
program "process.do" in that subdirectory.


Listing of all folders and files in this directory:
---------------------------------------------------

graphs 
>> Folder where generated figures are stored

logfiles
>> Folder where Stata logs and "txt" files with table results are stored

PSID
>> Folder with intermediate programs used to assemble the PSID data set

bpea_data.dta
>> Stata data set used for all tables and figures 4-5

figure4_dynan.do
>> Generates figure 4

figure5_dynan.do
>> Generates figure 5

figure123_dynan.xls
>> Spreadsheet with figures 1-3

make_bpea_data.do
>> Creates bpea_data.dta

merge_in.do
>> Called by make_bpea_data.do

prev_yr_dat.do
>> Called by make_bpea_data.do

run_bpea_dynan.do
>> PROGRAM TO RUN TO GENERATE THE TABLES AND FIGURES 4-5

table1_dynan.do
>> Called by run_bpea_dynan.do. Produces info for table 1

table2_dynan.do
>> Called by run_bpea_dynan.do. Produces info for table 2

table3_dynan.do
>> Called by run_bpea_dynan.do. Produces info for table 3

table456_dynan.do
>> Called by run_bpea_dynan.do. Produces info for table 4-6 (OLS results)

table46iv_dynan.do
>> Called by run_bpea_dynan.do. Produces info for tables 4 and 6 (IV results)

table7_dynan.do
>> Called by run_bpea_dynan.do. Produces info for table 7

table8_dynan.do
>> Called by run_bpea_dynan.do. Produces info for table 8
