全球智库信息集成服务系统(G2TT): DP15368 Exploring Differences in Household Debt Across the United States and Euro Area Countries

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP15368
	DP15368 Exploring Differences in Household Debt Across the United States and Euro Area Countries
	Dimitris Christelis; Michael Ehrmann; Dimitris Georgarakos
发表日期	2020-10-14
出版年	2020
语种	英语
摘要	Household debt in the United States has played a central role in the up-run and the aftermath of the global financial crisis. Despite this, our understanding of household debt and potential debt overhang is still limited. To shed light on this issue, we put U.S. household leverage in an international perspective, using household-level data for the United States and ten euro area economies. U.S. households have the highest prevalence of collateralized and non-collateralized debt, hold comparatively large amounts of loans, and face a higher debt-service burden, even though they have higher income and financial wealth. These differences are mainly related to the U.S. economic environment, which appears to be more conducive to both types of debt, primarily because a given level of collateral is associated with higher prevalence of collateralized debt, and larger amounts of it, in the United States.
主题	Monetary Economics and Fluctuations
关键词	Household debt Debt burden Household finance Counterfactual decompositions
URL	https://cepr.org/publications/dp15368
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/544350
推荐引用方式 GB/T 7714	Dimitris Christelis,Michael Ehrmann,Dimitris Georgarakos. DP15368 Exploring Differences in Household Debt Across the United States and Euro Area Countries. 2020.