value or high loan to income ratios. In aggregate, household leverage responds more strongly to supply shocks that change …

This paper investigates responses of household debt to COVID-19 related data like confirmed cases and confirmed deaths … marginal likelihood criterion and we estimate the GVAR with MCMC techniques. Results reveal that household debt positively …, vaccinations and testing appear to negatively affect household debt. Lockdown measures such as stay-at-home advice, and closing …

response of household mortgage debt. Furthermore, we find evidence that positive credit supply shocks are the driving force …