examine the incidence of the introduction in 1988 of tax incentives to retirement savings on contributions to pension funds … and on savings. We first identify the population cohorts who most used these incentives. Then we use data on the evolution … tax incentives. Most contributions to pension funds are by older/high income individuals. While the overall amount of new …

youngest group of households borrow lower amounts (conditional on borrowing), and the mortgage interest rates paid by low-income …

of asymmetrical effects of unemployment ratios on default ratios, and differences between banks and savings banks in …

and age, income, positive financial prospects and housing tenure are found to be very significant and have the expected … that income is the main variable explaining cross sectional differences in unsecured debts. The increase in aggregate … participation and has been mainly associated with the larger amounts borrowed by those with debts. Increases in income, better …

causing debt problems are the unsecured debt income ratio, the level of mortgage income gearing, the level of financial wealth …