Unemployment risk and over-indebtedness

Philip Du Caju, Francois Rycx and Ilan Tojerow

No 1908, Working Paper Series from European Central Bank

Abstract: We study how unemployment affects the over-indebtedness of households using the new European Household Finance and Consumption Survey (HFCS). First, we assess the role of different labor market statuses (i.e. employed, unemployed, disabled, retired, etc.) and other household characteristics (i.e. demographics, housing status, household wealth and income, etc.) to determine the likelihood of over-indebtedness. We explore these relationships both at the Euro area level and through country-specific regressions. This approach captures country-specific institutional effects concerning all the different factors which can explain household indebtedness in its most severe form. We also examine the role that each country JEL Classification: D14, D91, J12

Keywords: financial fragility; HFCS; household finance; labor market status; over-indebtedness; unemployment (search for similar items in EconPapers)
Date: 2016-05
New Economics Papers: this item is included in nep-eec, nep-lab and nep-net
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:20161908

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