Maczulskij, Terhi; Kanninen, Ohto; Karhunen, Hannu; … - 2024
The paper investigates the impact of involuntary job loss on severe debt problems in Finland, where up to 50% of income may be subject to wage garnishment for 25 years. We use linked employer-employee data combined with unique administrative records covering debt enforcements from 2007 to 2018....