Household debt and the macroeconomy

Guy Debelle ()

BIS Quarterly Review, 2004

Abstract: Lower interest rates and an easing of liquidity constraints have led to a substantial rise in household debt over the past two decades. The greater indebtedness has made the household sector more sensitive to changes in interest rates, income and asset prices. This enhanced sensitivity is higher where more households have variable instead of fixed rate mortgages.

JEL-codes: E21 E52 (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (56)

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