Household Debt in Europe�s Periphery: The dangers of a prolonged recession

Ales Chmelar

ECRI Papers from Centre for European Policy Studies

Abstract: The second-dip recession in Europe�s periphery has created a poisonous mix, which risks threatening further the financial system and the economy. Against this background, this ECRI Commentary argues that time matters in the household deleveraging cycle and that a swift recovery is one of its most vital parts. The paper also assesses the extent to which these effects have already materialised and evaluates the risks for countries that have so far been spared their full effects. It also offers a theoretical policy response towards a more sustainable household credit sector and overall economic recovery.

Pages: 14 pages
Date: 2011-11
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eps:ecriwp:7478

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