La teoría de la renta permanente predice que en ausencia de restricciones al crédito las decisiones de gasto de los propietarios de vivienda dependen principalmente del tipo de interés de su hipoteca. Por el contrario, el consumo de hogares con acceso limitado al crédito depende de otras...

Over the past few decades, financial markets became increasingly deregulated and household debt expanded, sometimes rapidly. It is thus possible that greater deregulation led to improved credit access for typically underserved groups, such as minorities and low-income families, relative to their...

From 2000 to 2007, Estonia was one of the fastest growing emerging market economies. A housing boom, fuelled by capital inflows and credit, resulted in skyrocketing house prices and an over-expanded construction sector. However, the currency board limited the Bank of Estonia’s ability to curb...

Since the 1980s, household debt has been increasing rapidly. The high level of household indebtedness has been accompanied by a high household bankruptcy rate. My research attempts to provide a better understanding of the theoretical mechanisms behind these credit market and bankruptcy...

Artículo de revista ; The Financial Accounts of the Spanish Economy show that in 2019 households received, for the second consecutive year, positive net bank financing in a moderate amount, similar to that received in 2018, mainly owing to the increase in consumer and other lending. These...

Artículo de revista ; The Financial Accounts of the Spanish Economy (FASE) show that in 2018 households received positive net bank financing for the first time since 2011, mainly due to the increase in consumer credit and other lending, while their saving ratio continued to fall, to a new...

Artículo de revista ; The Financial Accounts of the Spanish Economy show that in 2020 the developments in balance sheets and financial transactions were strongly influenced by the health, social and economic crisis and by the extraordinary economic (monetary, fiscal and financial) policy...