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We show that the size of collateralized household debt determines an economy's vulnerability to crises of confidence …
Persistent link: https://www.econbiz.de/10011430780
We show that the size of collateralized household debt determines an economy's vulnerability to crises of confidence …
Persistent link: https://www.econbiz.de/10011346295
We show that the size of collateralized household debt determines an economy's vulnerability to crises of confidence …
Persistent link: https://www.econbiz.de/10011347156
Since the onset of the financial crisis, income and consumption have fallen sharply in Ireland, particularly for young households. This paper shows that young households are more likely than older ones to be exposed to unemployment, arrears and negative equity. These may give rise to credit...
Persistent link: https://www.econbiz.de/10009745046
fluctuations in household wealth have driven major swings in economic activity. This paper considers so-called wealth effects - the … impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature …
Persistent link: https://www.econbiz.de/10009760038
Persistent link: https://www.econbiz.de/10010225554
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Persistent link: https://www.econbiz.de/10011522126
This paper examines macroeconomic dynamics of household debt and housing prices. Drawing on Minsky's insights into … financial instability and cycles, our framework combines household debt dynamics with behavioral asset price dynamics in a … Keynesian macro model. We show that endogenous boom-bust cycles can emerge through the interaction between household debt and …
Persistent link: https://www.econbiz.de/10011522147