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Household Debt and Spending in the United Kingdom [PDF]

SSRN Electronic Journal, 2015
Household debt rose sharply in the United Kingdom in the decade before the financial crisis. This paper uses household level microdata to investigate the relationship between mortgage debt and consumption. We find evidence that more highly indebted groups of households made larger cuts in spending following the financial crisis: spending cuts ...
Bunn, Philip, Rostom, May
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Swedish Household Debt: Macroeconomic determinants of the household debt-to-income ratio

2016
MSc in ...
Lundbäck, Fabian, Martinsson, Johan
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Trust and Household Debt

Review of Finance, 2016
Abstract Using a large sample of US individuals, we show that individuals with higher levels of trust have lower likelihoods of default in household debt and higher net worth. The effect is driven by trust values inherited from cultural and family backgrounds more than by trust beliefs about others.
Danling Jiang, Sonya S Lim
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Household Behaviour and Debt Demand

2011
The theoretical economic framework for consumption, saving and indebtedness decisions is developed within the Life Cycle theory, proposed by Modigliani and Brumberg in 1954, and the Permanent Income Hypothesis, developed by Friedman in 1957.
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Household Debt and Unemployment

SSRN Electronic Journal, 2018
We use a labor-search model to explain why the worst employment slumps often follow expansions of household debt. We find that households protected by limited liability suffer from a household-debt-overhang problem that leads them to require high wages to work. Firms respond by posting high wages but few vacancies.
Jason Roderick Donaldson, Giorgia Piacentino, Anjan V. Thakor   +2 more
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Household debt and spending [PDF]

Bank of England Quarterly Bulletin, 2014
This article is the first study to use microdata to assess the role of debt levels in determining UK households’ spending patterns over the course of the recent recession. There is evidence that high levels of household debt have been associated with deeper downturns and more protracted recoveries in the United Kingdom. Cuts in spending associated with
Bunn, Philip, Rostom, May
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The Household Debt Bubble

Monthly Review, 2006
It is an inescapable truth of the capitalist economy that the uneven, class-based distribution of income is a determining factor of consumption and investment. How much is spent on consumption goods depends on the income of the working class. Workers necessarily spend all or almost all of their income on consumption.
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The Macrodynamics of Household Debt [PDF]

, 2010
Recent research finds that corporate leverage affects macroeconomic dynamics and can contribute to financial fragility. We show that consumer debt is also important. We add consumer debt to a stock-flow consistent neo-Kaleckian growth model and explore the macrodynamic ramifications.
Yun Kim, Alan Isaac
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Local Agglomeration and Household Mortgage Debt

Management Science
Using detailed household data, we find that households working in locally agglomerated economies have high mortgage loans and are more likely to have mortgage loans. Channel testing shows that local agglomeration increases housing and mortgage demand as well as mortgage supply. The increase in mortgage loans is driven by purchases of larger houses and
Fengqin Freya Chen, Walid Saffar, Longfei Shang   +2 more
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Household debt in the times of populism

Journal of Economic Behavior & Organization, 2022
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