abstract:Peter Hooper (1919–1991) was a New Zealand teacher, writer, bookseller and conservationist. He was born in London, England and emigrated to New Zealand at the age of four, growing up in the Nelson and West Coast districts.
On February 22, 2013, Frederic Mishkin, PeterHooper, James Hamilton and David Greenlaw published Crunch Time: Fiscal Crises and the Role of Monetary Policy, an 86-page paper that predicts the Fed will stare down the barrel of a few hundred billion dollars of losses when interest rates rise.
PeterHooper and Torsten Slok of Deutsche Bank reckon that if saving stays at about 6% of income, write-offs remain near today's elevated level and household income rises by 4.5% a year, household debt will fall from 126% of disposable income now to around 85%, where it was in the early 1990s, by 2013 (see chart 3).