Characteristics of household borrowing in European countries

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Date
2019
Journal Title
Journal ISSN
Volume Title
Publisher
Ivane Javakhishvili Tbilisi State University Press
Abstract
Household borrowing as an economic policy issue has attracted increasing research interest not only at micro level, but also from the world economy perspective. The present paper gives comparative analysis of debt-related indicators in selected European countries. The analysis covers economic and several socio-cultural characteristics of household debt. The main data source is Luxembourg Wealth Study Dataset. It reveals that global bias towards loans for purchasing main residence is repeated in the sample European counties. However they differ greatly in debt repayment indicators and behavioral characteristics of debt.
Description
1. Badarinza, Cristian., Campbell John Y., Ramadorai, Tarun. (2016). International Comparative Household Finance. Working Paper 22066 http://www.nber.org/papers/w22066 2. European commission. (2014). Indebtedness of Households and The Cost of Debt by Household Type and Income Group. Research Note 10/2014 3. International monetary Fund. (2014). World Economic Outlook: Legacies, Clouds, Uncertainties. 4. Koo, R. (2011). The World in Balance Sheet Recession. Ensayos Económicos, Central Bank of Argentina, Economic Research Department, vol. 1(63), pages 7-39, July - Se. 5. Luxembourg Wealth Study (LWS) Database, http://www.lisdatacenter.org (multiple countries; accessed on 3d to 12th of September, 2019). Luxembourg: LIS. 6. Santos, Ana Cordeiro., Costa, Vânia., Teles, Nuno. (2014). The Political Economy of Consumption and Household Debt: An Interdisciplinary Contribution. RCCS Annual Review. Issue no. 6
Keywords
household, debt, credit access, debt burden, European countries
Citation
The 4th International Scientific Conference: "Challenges of Globalization in Economics and Business", Tbilisi, 2019, pp. 510-514
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