towards mortgage indebtedness. We find that a given debt burden creates much higher distress in countries with fewer mortgage … holders relative to countries where a significant part of households uses mortgage debt. This effect is net of ppp …-adjusted income levels, various socioeconomic characteristics, housing traits, country-specific constant terms, and household …

Mortgages constitute the largest part of household debt. An essential choice when taking out a mortgage is between …-country study has analyzed what determines household demand for mortgage types, a task that this paper takes up using new data for … of household risk management: income volatility reduces the take-out of ARMs, while increasing duration and relative size …

equity. Using US household data from the Survey of Income and Program Participation for the period 1996-2006, we find that … applies. This home equity bias is also more pronounced if the household head is in poor health, increasing the chance of … bankruptcy on account of unpaid medical bills. The bias is further stronger for households with mortgage finance, shorter house …

provide a down payment. After signing the mortgage contract, the agent may strategically default and move into the rental … losses due to default on a mortgage. As a result, mortgage value and amount of leverage are closely linked. An alternative is … that the agent is indifferent ex ante between owning with a mortgage and renting. Three main results arise. First, the …

This paper compares the survey results on savings deposits and estimates on total financial assets from the Household … Finance and Consumption Survey (HFCS) in Austria with administrative records from the national accounts for the household …

Sound household financial conditions are relevant for both financial and monetary stability. Therefore, we analyse … household financial fragility in a sample of euro area countries with the aim to shed some light on the nature of the large debt … increase accumulated in recent years. We focus on household arrears on payment obligations, which are one of the most direct …

How do households adjust to a large debt shock? This paper studies household responses to a revaluation of foreign … currency household debt during a large depreciation in Hungary. Relative to similar local currency debtors, foreign currency …

We assess the impact of the Eurosystem's Targeted Long-Term Refinancing Operations (TLTROs) on the lending policies of …