Debt ratios deteriorated due to increased access to new financial products, the baby-boom generation transitioning towards middle age, and educational attainment for the population was rising (Dynan and Kohn, 2007). Following the GFC, the large decline in house prices led to a reassessment of household balance sheets and an associated cutback in consumption.
BIS Review 144/2007  1  The Reserve Bank also contributes to the requirements of the academic world through its key analytical publications such as Annual Report, Report on Trend and Progress of Banking in India, Report on Currency and Finance, State Finances: A Study of Budgets, Macroeconomic and Monetary Developments, the Weekly Statistical Supplement, the Monthly Bulletin and Handbook of Statistics on Indian Economy, for the use of researchers.