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The maturity structure of household financial assets and liabilities

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Author Info
Marie-Claude Montplaisir (Bank of Canada)
Abstract

In this article, the author examines the maturity structure of the household sector's balance sheet and the degree of interest rate variability of household loans and financial assets. The bulk of households' interest-bearing assets and financial liabilities consists of medium- and long-term, fixed-rate instruments. The pattern of personal consumption is therefore influenced more by the wealth effects of interest rate changes than by their income effects, and the full impact of a permnent shift in interest rates on consumption will become apparent only after a lag.

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Publisher Info
Article provided by Bank of Canada in its journal Bank of Canada Review.

Volume (Year): 1997 (1997)
Issue (Month): Winter ()
Pages: 33-46
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Handle: RePEc:bca:bcarev:v:1997:y:1997:i:winter:p:33-46

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Find related papers by JEL classification:
E21 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

Cited by:
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  1. Amano, Robert & Coletti, Don & Macklem, Tiff, 1999. "Monetary Rules When Economic Behaviour Changes," Working Papers 99-8, Bank of Canada. [Downloadable!]
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This page was last updated on 2009-12-16.

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