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Household indebtedness risks in the wake of COVID‑19

Olga Bilyk, Anson Ho (), Mikael Khan and Geneviève Vallée ()
Authors registered in the RePEc Author Service: Ron Alquist () and Reinhard Ellwanger

No 2020-8, Staff Analytical Notes from Bank of Canada

Abstract: COVID-19 presents challenges for indebted households. We assess these by drawing parallels between pandemics and natural disasters. Taking into account the financial health of the household sector when the pandemic began, we run model simulations to illustrate how payment deferrals and the labour market recovery will affect mortgage defaults.

Keywords: Climate change; Credit and credit aggregates; Econometric and statistical methods; Financial stability; Fiscal policy; Housing; Recent economic and financial developments; Sectoral balance sheet (search for similar items in EconPapers)
JEL-codes: C2 C21 D1 D12 D14 E2 E24 E27 E6 E62 G2 G21 G28 R2 (search for similar items in EconPapers)
Date: 2020-06
New Economics Papers: this item is included in nep-env, nep-mac and nep-ore
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Handle: RePEc:bca:bocsan:20-8