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Securitization, collateral constraints and consumption risk sharing in the euro area

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  • Nitschka, Thomas

Abstract

Scarcity of housing collateral is associated with lower credit volumes and hence decreases consumption risk sharing among seven euro area countries in the time period from 1987Q1 to 2007Q4. At the same time, securitization improves risk sharing but does not seem to outweigh the collateral scarcity effect.

Suggested Citation

  • Nitschka, Thomas, 2010. "Securitization, collateral constraints and consumption risk sharing in the euro area," Economics Letters, Elsevier, vol. 106(3), pages 197-199, March.
    • Handle: RePEc:eee:ecolet:v:106:y:2010:i:3:p:197-199
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    References listed on IDEAS

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    1. Nitschka, Thomas, 2011. "Banking sectors' international interconnectedness: Implications for consumption risk sharing in Europe," VfS Annual Conference 2011 (Frankfurt, Main): The Order of the World Economy - Lessons from the Crisis 48684, Verein für Socialpolitik / German Economic Association.
    2. Anna Lo Prete, 2016. "Labour Market Institutions and Household Consumption Insurance within OECD Countries," The World Economy, Wiley Blackwell, vol. 39(6), pages 755-771, June.

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