Kärkkäinen, Samu; Silvo, Aino - 2023
We study whether the level of household indebtedness is related to the interest rate elasticity of private consumption … even as the household sector's debt-to-income ratio has almost doubled in the past 20 years. Estimates based on the … household-level Finnish Wealth Survey suggest that the share of liquidity-constrained households has declined over the same time …
