; Collateral ; Income risk ; Bankruptcy …

and price of unsecured debt. -- household debt portfolios ; housing ; collateral ; bankruptcy ; commitment ; income risk …

imperfectly identified. We quantify the relative statistical impact of income, unemployment, house prices, credit scores, debt … needs to allow for multiple determinants of consumption. Unemployment, income, and debt are important determinants of …

Financial markets provide imperfect insurance of labor income risk. However, workers can partly insure against labor …

We investigate the relevance of aggregate and consumer-specific income uncertainty for aggregate consumption changes in … the US over the period 1952-2001. Theoretically, the effect of income risk on consumption changes is decomposed into an … aggregate and into a consumer-specific part. Empirically, aggregate risk is modelled through a GARCH process on aggregate income …

We analyse the effect of shocks to housing wealth and income before and after the Great Recession. We combine datasets … containing information on expenditure, income, wealth and debt in a synthetic panel to understand how household indebtedness … affects the response to income and wealth shocks.We find evidence for both a housing wealth effect and income shocks …

a household's earnings or assets, leads to a higher implicit tax on old-age resources, but has desirable distributional … comparable payroll tax cut leads to an across-the-board decline of 2% in the average dollar benefits, despite an increase in …