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a partial debt discharge. Usually, a debt release is possible when the debtor behaves in the creditors' best interest …. Instead, we suggest to adequately reduce the outstanding claim and to make debt release contingent on payment. When the … consumer manages to pay back the reduced amount, the rest of the initial debt should be discharged immediately. In effect, the …
Persistent link: https://www.econbiz.de/10014056891
Unconventional fiscal policies incentivize households to accelerate consumption by generating future consumer price ination, and offer an alternative to unconventional monetary policy (Correia et al. (2013)). We use a natural experiment to study the causal effect of unconventional fiscal...
Persistent link: https://www.econbiz.de/10011436147
cognitive abilities, as well as economic expectations, consumption and borrowing plans, and total household debt from Finland …
Persistent link: https://www.econbiz.de/10012893775
despite substantial debt capacity. Differences in income, formal education levels, economic expectations, and a large set of …
Persistent link: https://www.econbiz.de/10012617622
Communication targeting households and firms has become a stand-alone policy tool of many central banks. But which forms of communication, if any, can reach ordinary people and manage their economic expectations effectively? In a large-scale randomized control trial, we show that communication...
Persistent link: https://www.econbiz.de/10013250475
despite substantial debt capacity. Differences in income, formal education levels, economic expectations, and a large set of …
Persistent link: https://www.econbiz.de/10013213014
The empirical effectiveness of economic policies that operate theoretically through similar channels differs substantially. We document this fact by comparing an easy-to-grasp expectations-based policy, unconventional fiscal policy, with a policy whose implications are harder to understand by...
Persistent link: https://www.econbiz.de/10012057290
Binding lower bounds on interest rates and large government deficits limit the scope of fiscal and monetary policies to stimulate households' spending through financial intermediaries and firms. Policymakers have thus been implementing unconventional policies that aim to increase households'...
Persistent link: https://www.econbiz.de/10012490917
cognitive abilities, as well as economic expectations, consumption and borrowing plans, and total household debt from Finland …
Persistent link: https://www.econbiz.de/10011959294
and borrowing plans, as well as actual debt levels and interest paid by debtholders in Finland. Limited cognitive …
Persistent link: https://www.econbiz.de/10012863217