skip to content
Understanding the Macro-Financial Effects of Household Debt : a Global Perspective Preview this item
ClosePreview this item
Checking...

Understanding the Macro-Financial Effects of Household Debt : a Global Perspective

Author: Adrian Alter; Nico Valckx; Alan Xiaochen Feng
Publisher: Washington, D.C. : International Monetary Fund, 2018.
Series: IMF Working Papers; Working Paper, no. 18/76.
Edition/Format:   eBook : Document : International government publication : EnglishView all editions and formats
Summary:
We confirm the negative relationship between household debt and future GDP growth documented in Mian, Sufi, and Verner (2017) for a wider set of countries over the period 1950-2016. Three mutually reinforcing mechanisms help explain this relationship. First, debt overhang impairs household consumption when negative shocks hit. Second, increases in household debt heighten the probability of future banking crises,  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Find a copy online

Links to this item

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Additional Physical Format: Print Version:
Alter, Adrian.
Understanding the Macro-Financial Effects of Household Debt: A Global Perspective.
Washington, D.C. : International Monetary Fund, 2018
Material Type: Document, Government publication, International government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Adrian Alter; Nico Valckx; Alan Xiaochen Feng
ISBN: 1484349865 9781484349861
OCLC Number: 1051178521
Description: 1 online resource (49 pages).
Series Title: IMF Working Papers; Working Paper, no. 18/76.
Responsibility: Alter, Adrian.

Abstract:

We confirm the negative relationship between household debt and future GDP growth documented in Mian, Sufi, and Verner (2017) for a wider set of countries over the period 1950-2016. Three mutually reinforcing mechanisms help explain this relationship. First, debt overhang impairs household consumption when negative shocks hit. Second, increases in household debt heighten the probability of future banking crises, which significantly disrupts financial intermediation. Third, crash risk may be systematically neglected due to investors' overoptimistic expectations associated with household debt booms. In addition, several institutional factors such as flexible exchange rates, higher financial development and inclusion are found to mitigate this impact. Finally, the tradeoff between financial inclusion and stability nuances downside risks to growth.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/1051178521> # Understanding the Macro-Financial Effects of Household Debt : a Global Perspective
    a schema:MediaObject, schema:CreativeWork, schema:Book ;
    library:oclcnum "1051178521" ;
    library:placeOfPublication <http://id.loc.gov/vocabulary/countries/dcu> ;
    library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/5107751556#Place/washington_d_c> ; # Washington, D.C.
    rdfs:comment "Unknown 'gen' value: igp" ;
    schema:bookFormat schema:EBook ;
    schema:contributor <http://experiment.worldcat.org/entity/work/data/5107751556#Person/xiaochen_feng_alan> ; # Alan Xiaochen Feng
    schema:contributor <http://experiment.worldcat.org/entity/work/data/5107751556#Person/valckx_nico> ; # Nico Valckx
    schema:creator <http://experiment.worldcat.org/entity/work/data/5107751556#Person/alter_adrian> ; # Adrian Alter
    schema:datePublished "2018" ;
    schema:description "We confirm the negative relationship between household debt and future GDP growth documented in Mian, Sufi, and Verner (2017) for a wider set of countries over the period 1950-2016. Three mutually reinforcing mechanisms help explain this relationship. First, debt overhang impairs household consumption when negative shocks hit. Second, increases in household debt heighten the probability of future banking crises, which significantly disrupts financial intermediation. Third, crash risk may be systematically neglected due to investors' overoptimistic expectations associated with household debt booms. In addition, several institutional factors such as flexible exchange rates, higher financial development and inclusion are found to mitigate this impact. Finally, the tradeoff between financial inclusion and stability nuances downside risks to growth."@en ;
    schema:exampleOfWork <http://worldcat.org/entity/work/id/5107751556> ;
    schema:genre "Government publication"@en ;
    schema:inLanguage "en" ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/5107751556#Series/imf_working_papers_working_paper> ; # IMF Working Papers; Working Paper ;
    schema:isPartOf <http://worldcat.org/issn/1018-5941> ; # IMF Working Papers; Working Paper,
    schema:isSimilarTo <http://worldcat.org/entity/work/data/5107751556#CreativeWork/understanding_the_macro_financial_effects_of_household_debt_a_global_perspective> ;
    schema:name "Understanding the Macro-Financial Effects of Household Debt : a Global Perspective"@en ;
    schema:productID "1051178521" ;
    schema:publication <http://www.worldcat.org/title/-/oclc/1051178521#PublicationEvent/washington_d_c_international_monetary_fund_2018> ;
    schema:publisher <http://experiment.worldcat.org/entity/work/data/5107751556#Agent/international_monetary_fund> ; # International Monetary Fund
    schema:url <http://elibrary.imf.org/view/IMF001/25050-9781484349861/25050-9781484349861/25050-9781484349861.xml> ;
    schema:workExample <http://worldcat.org/isbn/9781484349861> ;
    wdrs:describedby <http://www.worldcat.org/title/-/oclc/1051178521> ;
    .


Related Entities

<http://elibrary.imf.org/view/IMF001/25050-9781484349861/25050-9781484349861/25050-9781484349861.xml>
    rdfs:comment "IMF e-Library" ;
    rdfs:comment "IMF eLibrary (Restricted to University of Ottawa)" ;
    rdfs:comment "IMF eLibrary. UCB Access." ;
    .

<http://experiment.worldcat.org/entity/work/data/5107751556#Agent/international_monetary_fund> # International Monetary Fund
    a bgn:Agent ;
    schema:name "International Monetary Fund" ;
    .

<http://experiment.worldcat.org/entity/work/data/5107751556#Person/alter_adrian> # Adrian Alter
    a schema:Person ;
    schema:familyName "Alter" ;
    schema:givenName "Adrian" ;
    schema:name "Adrian Alter" ;
    .

<http://experiment.worldcat.org/entity/work/data/5107751556#Person/valckx_nico> # Nico Valckx
    a schema:Person ;
    schema:familyName "Valckx" ;
    schema:givenName "Nico" ;
    schema:name "Nico Valckx" ;
    .

<http://experiment.worldcat.org/entity/work/data/5107751556#Person/xiaochen_feng_alan> # Alan Xiaochen Feng
    a schema:Person ;
    schema:familyName "Xiaochen Feng" ;
    schema:givenName "Alan" ;
    schema:name "Alan Xiaochen Feng" ;
    .

<http://experiment.worldcat.org/entity/work/data/5107751556#Place/washington_d_c> # Washington, D.C.
    a schema:Place ;
    schema:name "Washington, D.C." ;
    .

<http://experiment.worldcat.org/entity/work/data/5107751556#Series/imf_working_papers_working_paper> # IMF Working Papers; Working Paper ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/1051178521> ; # Understanding the Macro-Financial Effects of Household Debt : a Global Perspective
    schema:name "IMF Working Papers; Working Paper ;" ;
    .

<http://worldcat.org/entity/work/data/5107751556#CreativeWork/understanding_the_macro_financial_effects_of_household_debt_a_global_perspective>
    a schema:CreativeWork ;
    rdfs:label "Understanding the Macro-Financial Effects of Household Debt: A Global Perspective." ;
    schema:description "Print Version:" ;
    schema:isSimilarTo <http://www.worldcat.org/oclc/1051178521> ; # Understanding the Macro-Financial Effects of Household Debt : a Global Perspective
    .

<http://worldcat.org/isbn/9781484349861>
    a schema:ProductModel ;
    schema:isbn "1484349865" ;
    schema:isbn "9781484349861" ;
    .

<http://worldcat.org/issn/1018-5941> # IMF Working Papers; Working Paper,
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/1051178521> ; # Understanding the Macro-Financial Effects of Household Debt : a Global Perspective
    schema:issn "1018-5941" ;
    schema:name "IMF Working Papers; Working Paper," ;
    .

<http://www.worldcat.org/title/-/oclc/1051178521>
    a genont:InformationResource, genont:ContentTypeGenericResource ;
    schema:about <http://www.worldcat.org/oclc/1051178521> ; # Understanding the Macro-Financial Effects of Household Debt : a Global Perspective
    schema:dateModified "2019-02-13" ;
    void:inDataset <http://purl.oclc.org/dataset/WorldCat> ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.