Household Deleveraging and Saving Rates : A Cross-Country Analysis /

Household Deleveraging and Saving Rates : A Cross-Country Analysis /

Historically high household debt in several economies is calling for a deleveraging, but according to some economists, this adjustment can slow GDP growth by weighing on consumption. Using a sample of advanced and emerging market economies, this paper finds evidence of a negative relationship betwee...

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Detalles Bibliográficos
Autor Principal: Bouis, Romain
Formato: Revista
Idioma:English
Publicado: Washington, D.C. : International Monetary Fund, 2021.
Series:IMF Working Papers; Working Paper ; No. 2021/257
Subjects:
Financial Crises
Financial Markets and the Macroeconomy
Macroeconomics
Saving
Wealth
Acceso en liña:Full text available on IMF
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100 1 |a Bouis, Romain. 
245 1 0 |a Household Deleveraging and Saving Rates :   |b A Cross-Country Analysis /  |c Romain Bouis. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2021. 
300 |a 1 online resource (49 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a Historically high household debt in several economies is calling for a deleveraging, but according to some economists, this adjustment can slow GDP growth by weighing on consumption. Using a sample of advanced and emerging market economies, this paper finds evidence of a negative relationship between changes of household debt-to-income ratios and saving rates. This relationship is however asymmetric, being significant only for debt build-ups. Declining debt ratios and saving are significantly related in some economies, but the relationship is driven by consumer credit, not by mortgages. Results therefore suggest that the economic cost associated with household deleveraging may be overestimated and motivate a deleveraging via lower mortgages. 
538 |a Mode of access: Internet 
650 7 |a Financial Crises  |2 imf 
650 7 |a Financial Markets and the Macroeconomy  |2 imf 
650 7 |a Macroeconomics  |2 imf 
650 7 |a Saving  |2 imf 
650 7 |a Wealth  |2 imf 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2021/257 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2021/257/001.2021.issue-257-en.xml  |z IMF e-Library 

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