This paper studies the direct impact of households' debt on consumption over the business cycle. We use household …' debt in past periods are not relevant in determining consumption; (ii) households adjust faster their consumption to debt … leverage, consumption, and asset prices. We find that debt levels exert a negative impact on consumption, which is particularly …

This paper investigates the potentially non-linear relation between households' indebtedness and their consumption … between 2010 and 2014 in Belgium, using panel data from the two waves of the Household Finance and Consumption Survey. Unlike … previous studies, we find a negative effect of households' indebtedness on their consumption, even in the absence of negative …

, observed in the Household Finance and Consumption Survey (HFCS) for these countries. We then show that the heterogeneity in …This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house …-cycle incomplete-markets model with a financial asset and housing to match the large heterogeneity of households asset portfolios …

COVID-19 is likely to have a large impact on the welfare of Tunisian households. First, some individuals might be more … care in the event that they contract COVID-19. In addition, the elderly in the poorest households could be more susceptible … to COVID-19 due to higher prevalence of intergenerational households among the poor. Second, many sectors of the labor …

We examine the effects of monetary policy on household self-assessed financial stress and durable consumption using … panel data from eighteen annual waves of the British Household Panel Survey. For identification, we exploit random variation … in household exposure to interest rates generated by the random timing of household interview dates with respect to …

We show that the size of collateralized household debt determines an economy's vulnerability to crises of confidence … confidence may drive house prices and aggregate consumption. …

We investigate the relationship between social interaction and household finances using data from the British Household … household finances and social interaction, rather than focusing one particular facet of household finances, such as the holding … the household balance sheet, i.e. liabilities and assets. Additionally, we allow the influence of social interaction on …

Household debt among older Americans approaching retirement has increased dramatically over the past couple of decades …. Older households have become increasingly more indebted and more leveraged. While mortgages remain the predominant type of … debt among households in their 50s and 60s, in recent years, student loan debt has also risen among these households. Using …

When facing financial distress, French households can file a case to a "households' over-indebtedness commission" (HDC …-default but that this impact is only short-lived. The effect depends not only on the characteristics of the households but also on … lending to particular fragile households. They indicate the importance of policy actions on budget counseling, as well as the …

large increase in earned income, employment, assets, real estate, secured debt, home ownership, and wealth that persists for … increase in earned income. …