Significance and Problems of Private Household Debt
With a GDP ratio of 36 percent indebtedness of Austrian private households is relatively low when compared with other OECD countries. Still, a total of AS 721 billion at the end of 1991 no longer allows to neglect issues related to debt accumulation. From a macroeconomic point of view, credit financing is of crucial importance for aggregate demand, employment and the formation of wealth. This is illustrated by the high share of nearly two-thirds of outstanding loans claimed by residential building purposes. 15 percent of Austrian adults report commitments from a bank loan. Some 2 percent of these loans are deemed "problem cases" involving legal prosecution.
Year of publication: |
1992
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Authors: | Brandner, Peter ; Mooslechner, Peter |
Published in: |
WIFO Monatsberichte (monthly reports). - Österreichisches Institut für Wirtschaftsforschung (WIFO), ISSN 0029-9898. - Vol. 65.1992, 8, p. 447-453
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Publisher: |
Österreichisches Institut für Wirtschaftsforschung (WIFO) |
Subject: | Ökonomische Bedeutung und Problematik der Verschuldung privater Haushalte | Significance and Problems of Private Household Debt |
Description of contents: | Abstract [wifo.ac.at] |
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