Analysing the US Panel Study of Income Dynamics, we present a new empirical method to investigate the extent to which … households reduce their financial risk exposure when confronted with background risk. Our novel modelling approach – termed a … category. Background risk exerts a significant impact on household portfolios, resulting in a 'flight from risk', away from …

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 …

households affected by such programs. We analyze the impact of the Texas Enterprise Zone Program on household debt and …The empirical effects of place-based tax incentive schemes designed to aid low income communities are unclear. While a … delinquency. Specifically, we utilize detailed information on all household liabilities, delinquencies, and credit scores from the …

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 …

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 …

socioeconomic characteristics, housing traits, country-specific constant terms, and household unobserved heterogeneity. We attribute …Using comparable survey data from twelve European countries we investigate households' attitudes towards mortgage … households have a mortgage outstanding relative to countries where a sizeable part of the population uses mortgage debt, like the …

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 …

Although lower income is associated with overweight (and obesity), such an association is explained by a number of … other confounding effects such as omitted variables (e.g., time preferences) explaining that income effect on overweight. We … study the effect of unearned income shocks resulting from a lottery win (windfall income) on both overweight (alongside …

been made in the US labour market, using a dynamic panel probit model. The estimated income effect of higher housing wealth … substitution effect of earned income is negative, thus decreasing the retirement probability. The retirement decision is strongly … reinforced by wealth and earned income …