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

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  • Chmelar, Ales

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.

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  • Chmelar, Ales, 2011. "Household Debt in Europe�s Periphery: The dangers of a prolonged recession," ECRI Papers 7478, Centre for European Policy Studies.
    • Handle: RePEc:eps:ecriwp:7478
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    File URL: http://www.ceps.eu/system/files/ECRI%20commentary%20No%2012%20Chmelar%20Household%20deleveraging_0.pdf
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    Cited by:

    1. Chmelar, Ales, 2013. "Household Debt and the European Crisis," ECRI Papers 8239, Centre for European Policy Studies.
    2. Bouyon, Sylvain, 2014. "A Review of Policy Options for Monitoring Household Saving," ECRI Papers 9754, Centre for European Policy Studies.
    3. Barbara Cavalletti & Corrado Lagazio & Elena Lagomarsino & Daniela Vandone, 2020. "Consumer Debt and Financial Fragility: Evidence from Italy," Journal of Consumer Policy, Springer, vol. 43(4), pages 747-765, December.
    4. Stefano Olgiati & Gilberto Bronzini & Alessandro Danovi, 2014. "The Italian Crisis and Producer Households Debt: a Source of Stability? A Reproducible Research," Papers 1404.7377, arXiv.org.

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