How are household finances holding up against the Covid-19 shock?

Anna Zabai

No 22, BIS Bulletins from Bank for International Settlements

Abstract: As incomes shrink because of the Covid-19 shock, households must balance repaying debt with keeping up reasonable levels of consumption. In several countries, low- and middle-wealth households have insufficient liquid buffers to weather a long spell of unemployment without falling behind on debt repayments. The resilience of middle-wealth households is especially important: they hold relatively more (mortgage) debt and are more vulnerable in the countries that are more heavily exposed to the economic shock.

Pages: 9 pages
Date: 2020-06-15
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Citations: View citations in EconPapers (10)

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