Chmelar, Ales (2012) Household Debt in Europe’s Periphery: The dangers of a prolonged recession. ECRI Commentary No. 12, 22 November 2012. [Working 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: | Working 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/reforms/economic governance |
| 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: | 10 Dec 2019 15:50 |
| URI: | http://aei.pitt.edu/id/eprint/37846 |
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