Debt, Financial Vulnerability, and Repayment Behaviour in Older Canadian Households

Jie Zhou

Canadian Public Policy, 2022, vol. 48, issue 1, 108-123

Abstract: Earlier research has documented that debt at older ages has increased significantly in Canada over the period from 1999 to 2016. In this article, I explore the consequences of a growing proportion of older Canadian households experiencing financial vulnerability. After controlling for household characteristics, I find among older households that a high debt-to-asset ratio and very low liquid wealth are significantly and positively associated with skipping or delaying a mortgage or non-mortgage debt payment and with usually paying the minimum amount or less on credit cards in the previous year. The debt-to-income ratio, however, is not an important indicator of financial vulnerability for older households.

Keywords: debt; financial vulnerability; household finance; household indebtedness (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://dx.doi.org/10.3138/cpp.2020-095 (text/html)
access restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cpp:issued:v:48:y:2022:i:1:p:108-123

Ordering information: This journal article can be ordered from
https://www.utpjournals.com/loi/cpp/

Access Statistics for this article

Canadian Public Policy is currently edited by Prof. Mike Veall

More articles in Canadian Public Policy from University of Toronto Press University of Toronto Press Journals Division 5201 Dufferin Street Toronto, Ontario, Canada M3H 5T8.
Bibliographic data for series maintained by Iver Chong ( this e-mail address is bad, please contact ).