 The Nordic Experience: The Case of Denmark in 2005–2015Niels Storm Stenbaek
Chapter 6 in Non-Performing Loans and Resolving Private Sector Insolvency, 2017, pp 111-125 from Palgrave Macmillan Abstract: Abstract Danish households and firms are among the most leveraged in Europe. This is due to a number of reasons, for example, institutional and tax, as well as the significant role played by the rather unique Danish mortgage credit system and the Danish pension system. Even though gross debt is high, the asset side is also substantial. Going into the financial crisis of 2008, the buildup of debt was huge. However, low interest rates have mitigated the impact on insolvency and losses in credit institutions, although some sectors are still challenged. Impairments on households have been negligible, but have had an impact on consumption, especially among the most indebted households. Similar impacts are observed among firms in terms of investments. The focus in this chapter is on households, but the corporate sector is also addressed briefly. Keywords: Banks’ balance sheets; Danish banking system; Mortgage credit system; Non-performing loans; Pension system (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-3-319-50313-4_6 Ordering information: This item can be ordered from DOI: 10.1007/978-3-319-50313-4_6 Access Statistics for this chapter More chapters in Palgrave Macmillan Studies in Banking and Financial Institutions from Palgrave Macmillan |
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