More than three-quarters of U.S. households bear consumer debt, yet we have little understanding of the relationship … between financial education and the debt behavior of U.S. consumers. In this paper, we study the effects of exposure to … financial training on debt outcomes in early adulthood. Identification comes from variation in financial literacy, economics …

the equilibrium debt-capital-ratio are also analysed. It is shown, that the effects of interest variations on the … interest rate and the debt-capital-ratio. If the conditions for short-run "normal" effects of interest rate variations are … given, the economy will be characterised by a long-run unstable debt-capital-ratio and by the macroeconomic "paradox of debt …

risk of debt-deflation and prolonged recession. Financialization operates through three different conduits: changes in the …

The rapid accumulation of private debt is widely viewed as a major risk to financial and economic stability. This paper … systematically and comprehensively assesses the effect of private debt buildup on economic growth. In the spirit of Mian, Sufi, and … Verner (2017) that separately examine the effects of two types of private debt, i.e., household debt and corporate debt, on …

the Great Recession, there was a historic run-up in household debt, driven primarily by housing debt, which coincided with … recession since the 1930s. Following the steep increase in debt balances during the boom, households began rapidly paying off … their loans during and immediately after the Great Recession. Since 2013, debt has begun to increase and eventually rise …

unsustainable levels of debt. Using survey data from South Africa, we confirm that poor people are indeed overly optimistic, and … also that optimism is positively and significantly related to debt accumulation. …

This study analyzes the effect of individual finances (specifically creditworthiness and severely delinquent debt) on … is utilized in an instrumental variables design. The possibility of the reverse causality of bad health causing debt and … 2005 residence. Worsening creditworthiness and increases in severely delinquent debt are found to lead to increases in …

With public debt soaring across the world, a growing concern is whether current debt levels are a harbinger of fiscal … true cost of debt may be overstated if interest rates remain low. To shed light into this debate, this paper re …-examines the importance of public debt as a leading indicator of fiscal crises using machine learning techniques to account for …