Characteristics of Household Debt in Austria

Christian Beer () and Martin Schürz ()
Additional contact information
Christian Beer: Vienna University of Economics and Business Administration
Martin Schürz: Oesterreichische Nationalbank, Economic Analysis Division

Monetary Policy & the Economy, 2007, issue 2, 58–79

Abstract: The level of household debt has risen in many countries, including Austria. This study examines whether the increased level of debt represents a risk to financial stability. The data used are mainly derived from a survey on households’ financial wealth conducted by the Oesterreichische Nationalbank (OeNB). Analysis shows that high-income households tend to have more debt than low-income households; the latter, however, are more burdened by their debt. Demand for consumer loans tends to be highest among high-income households with little financial assets. As high debt levels are mostly concentrated among affluent and high-income households, household debt in Austria does not constitute a threat to financial stability. Borrowers with lower incomes and/or low levels of wealth are particularly vulnerable borrowers.

Keywords: household debt; borrowing; overindebtedness (search for similar items in EconPapers)
JEL-codes: D12 D14 D91 (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (7)

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