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 …

One suggested hypothesis for the dramatic rise in household borrowing that preceded the financial crisis is that low … households. Using household level data on debt accumulation during 2001-2012, we show that low-income households in high …

the value of their housing stock. The purpose of this paper is to quantify the role of collateralized household debt in …