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Household Debt in Europe’s Periphery: The dangers of a prolonged recession. ECRI Commentary No. 12, 22 November 2012

Chmelar, Ales (2012) Household Debt in Europe’s Periphery: The dangers of a prolonged recession. ECRI Commentary No. 12, 22 November 2012. [Policy Paper]

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    Abstract

    The second-dip recession in Europe’s periphery has created a poisonous mix, which risks threatening further the financial system and the economy. Against this background, this ECRI Commentary argues that time matters in the household deleveraging cycle and that a swift recovery is one of its most vital parts. The paper also assesses the extent to which self-feeding phenomena related to household debt have already materialised and evaluates the risks for countries that have so far been spared their full effects. It also offers a theoretical policy response towards a more sustainable household credit sector and overall economic recovery.

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    Item Type: Policy Paper
    Uncontrolled Keywords: Household debt; household credit sector.
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on and consequences/reforms
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > ECRI Commentaries
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 27 Nov 2012 15:47
    Number of Pages: 14
    Last Modified: 27 Nov 2012 17:19
    URI: http://aei.pitt.edu/id/eprint/37846

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