Macroeconomic Implications of Rising Household Debt

By G. Debelle. 2004

219 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/bf0c01990f2ff5a823e3057bb874863adae11903

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Citations in the corpus

Debt and Financial Vulnerability on the Verge of Retirement (2019, background): “The increased indebtedness makes the household sector more exposed to interest rate risk, particularly where variable rate mortgages are prevalent, and American households have increased their take-up of variable rate mortgages or hybrid mortgages (Debelle, 2004).”
Wealth Effects on Consumption - Evidence from the Euro Area (2009, unknown): “…of consumption, namely: (i) the easing of liquidity constraints and the smaller borrowing costs (Davey, 2001); (ii) the larger degree of liquidity of housing wealth; and (iii) the rational response of households to an economic environment characterized by lower inflation (Debelle, 2004).”
FISCAL POLICY AND ASSET PRICES (2013, unknown): “Note: Data are provided by Mehrez and Kaufmann (1999), Girouard and Blöndal (2001), ECB (2003) and Debelle (2004). ∗ Although credit ceilings were officially eliminated in Italy in 1983, they were temporarily reimposed in the period 1986–87.”
Money and Housing: Evidence for the Euro Area and the Us (2007, unknown): “Recent studies have found important heterogeneity in the transmission of monetary policy on house prices depending on the structural and institutional features of the mortgage market (Debelle 2004, Calza, Monacelli and Stracca 2006).”
The Low Fertility Trap Hypothesis: Forces that May Lead to Further Postponement and Fewer Births in Europe (2006, background): “Increases in household debt as compared to disposable income have occurred in most countries where data are available, and even stronger increases than in the US took place in the Netherlands, Denmark and Australia (Debelle 2004). Stutzer (2004) shows that as people get richer, their material aspira”
Mortgage Markets, Collateral Constraints, and Monetary Policy: Do Institutional Factors Matter? (2007, background): “Girouard and Blöndal (2001) and Debelle (2004) also describe the impact of financial liberalization and deregulation on the easing of borrowing constraints in more recent episodes in various OECD countries.”
What Drives Personal Consumption? The Role of Housing and Financial Wealth (2009, unknown): “One reason is that housing wealth has become more liquid in that it is now easier and less costly to borrow against it. It is well-documented (see e.g., Davey (2001), Debelle (2004) and Greenspan and Kennedy (2005)) that inAnglo‐Saxoncountriestheamountofmoneyhouseholdswithdrawfromtheir mortgages(m”
Conspicuous Consumption, Inequality and Debt: The Nature of Consumption‐driven Profit‐led Regimes (2015, unknown): “These results stand in contrast to the standard permanent income/life-cycle view (see Debelle, 2004; Finocchiaro et al., 2011), which implies that an increase in debt-financed consumption is due to 8Salotti (2010) shows that the effect of housing value on consumption was largest for households in…”
New Keynesian models, durable goods, and collateral constraints (2009, methodology): “Given initial values {b−1, D−1}, the borrower chooses {Nt, bt, Dt, Ct} to maximize (5) subject to (7) and (10).”
Housing Finance and Monetary Policy (2009, background): “…and Monetary Policy by Alessandro Calza, Tommaso Monacelli and Livio Stracca WORKING PAPER SER IES NO 1069 / JULY 2009 This paper can be downloaded without charge from http://www.ecb.europa.eu or from the Social Science Research Network electronic library at http://ssrn.com/abstract_id=1429267.”
Keeping Up With the Joneses: Analyzing the Effect of Income Inequality on Consumer Borrowing (2005, background): “However, this could be a purely supply-driven effect as the number of liquidity constrained households has dropped (Debelle, 2004).”