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Survey-based assessment of household borrowers' financial vulnerability
Āriņš, Mikus; Siņenko, Nadežda; Laube, Laura - 2014
Persistent link: https://www.econbiz.de/10011438242
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Don't expect too much - high income expectations and over-indebtedness
Klühs, Theres; Koch, Melanie; Stein, Wiebke - 2019
Household indebtedness is rising worldwide. This study investigates one possible driver of this increase that is rooted in the theory of permanent income: high income expectations. We collect data from an emerging country, Thailand, as (over-) indebtedness in markets with incomplete financial...
Persistent link: https://www.econbiz.de/10012126240
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Earn more tomorrow : overconfident income expectations and consumer indebtedness
Grohmann, Antonia; Menkhoff, Lukas; Merkle, Christoph; … - 2019
This paper examines whether biased income expectations due to overconfidence lead to higher levels of debt-taking. In a lab experiment, participants can purchase goods by borrowing against their future income. We exogenously manipulate income expectations by letting income depend on relative...
Persistent link: https://www.econbiz.de/10012033567
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The interest rate exposure of euro area households
Tzamourani, Panagiota - 2019
We estimate the "unhedged interest rate exposure" (URE) of euro area households. The URE is a welfare metric that captures the extent to which households are exposed to changes in real interest rates, and reflects the direct gains and losses in interest income flows incurred by households after...
Persistent link: https://www.econbiz.de/10011963126
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Personal bankruptcy law, debt portfolios, and entrepreneurship
Mankart, Jochen; Rodano, Giacomo - 2015
Every year 400,000 entrepreneurs fail and 60,000 file for personal bankruptcy. The option to declare bankruptcy provides entrepreneurs with insurance against the financial consequences of business failures. However, it comes at the cost of worsened credit market conditions. In this paper, we...
Persistent link: https://www.econbiz.de/10011316589
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The making of America’s imbalances
Schularick, Moritz; Wachtel, Paul - 2012
This paper tracks the development of sectoral saving and borrowing in the US economy over the past 50 years. We show that the financial imbalances that erupted in the financial crisis of 2008 were long in the making and preceded the emergence of global imbalances in the 2000s. The record low...
Persistent link: https://www.econbiz.de/10009580848
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Are remittances a substitute for credit? : carrying the financial burden of health shocks in national and transnational households
Ambrosius, Christian - 2012
many empirical studies on remittances. This paper directly tests this assumption by comparing the response to health … serious health shocks that required hospital treatment doubled the average debt burden of exposed households compared to the … to health shocks. This finding is consistent with the view that remittances respond to households' demand for financing …
Persistent link: https://www.econbiz.de/10009526023
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Debt and incomplete financial markets : a case for nominal GDP targeting
Sheedy, Kevin D. - 2013
Persistent link: https://www.econbiz.de/10009746317
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The distribution of debt across euro area countries : the role of individual characteristics, institutions and credit conditions
Bover, Olympia; Casado, Jose Maria; Costa, Sónia; Du … - 2014
The aim of this paper is twofold. First, we present an up-to-date assessment of the differences across euro area countries in the distributions of various measures of debt conditional on household characteristics. We consider three different outcomes: the probability of holding debt, the amount...
Persistent link: https://www.econbiz.de/10010249770
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Do remittances increase borrowing?
Ambrosius, Christian; Cuecuecha, Alfredo - 2014
While recent literature has pointed out that migrants ́remittances have a positive impact on savings with financial institutions, findings with respect to access to and the use of loans have been ambiguous. This paper investigates whether the reception of remittances facilitates taking up loans...
Persistent link: https://www.econbiz.de/10010403217