Consumer Credit in Italy and Financial Fragility
AbstractThe paper focuses on the consumer credit market in Italy and on the related risk of over-indebtedness. Using survey data, it investigates the impact of over-indebtedness on consumption behaviour, evaluating in particular if consumer credit is used to cover gaps in income and if this is associated with an increased and diffused inadequacy of financial and economic position of indebted households. Results highlight that a relatively consistent part of consumer credit is concentrated in the hands of financially fragile individuals. Moreover, when considering the amount of debt measured in relative terms, a difficult financial position adds 2,7 percentage points to the risk of over-indebtedness compared to households without any financial difficulty.
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Bibliographic InfoArticle provided by Società editrice il Mulino in its journal Economia dei Servizi.
Volume (Year): (2011)
Issue (Month): 1 ()
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household indebtedness; consumer credit; over-indebtedness; permanent income hypothesis; C210; D120; D140; D910; G210.;
Find related papers by JEL classification:
- C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
- D91 - Microeconomics - - Intertemporal Choice - - - Intertemporal Household Choice; Life Cycle Models and Saving
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
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- Barbara Cavalletti & Corrado Lagazio & Daniela Vandone & Elena Lagomarsino, 2012. "The role of financial position on consumer indebted-ness. An empirical analysis in Italy," DEP - series of economic working papers 8/2012, University of Genoa, Research Doctorate in Public Economics.
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