Addressing High Household Debt in Korea

Mnb Bulletin, 2013

Journal of Financial Management, Markets and Institutions (ISSN 2282-717X) Fascicolo 1, gennio-giugno 2013 Copyright c by Società editrice il Mulino, Bologna. Tutti i diritti sono riservati. Per altre informazioni si veda https://www.rivisteweb.it Licenza d'uso L'articolò e messo a disposizione dell'utente in licenza per uso esclusivamente privato e personale, senza scopo di lucro e senza fini direttamente o indirettamente commerciali. Salvo quanto espressamente previsto dalla licenza d'uso Rivisteweb, ` e fatto divieto di riprodurre, trasmettere, distribuire o altrimenti utilizzare l'articolo, per qualsiasi scopo o fine. Tutti i diritti sono riservati. Abstract The paper studies the determinants of international differences in household indebtedness, and inquires whether indebtedness is associated with increased «financial fragility», as measured by the sensitivity of household arrears and insolvencies to macroeconomic shocks. It also investigates whether financ...

2014

IntroductionThe economic recession that followed the financial crisis which began in 2008 and which it gave rise to, coupled with a continuing squeeze on credit, has triggered concerns that a substantial and growing number of households would have difficulty managing the debts which they built up in the years leading up to the crisis. When considering the development of the overall level of arrears between 2005 and 2011, the majority of countries had experienced an increase in overall levels of arrears, for the most part since the onset of the financial crisis1. In 2011 across the EU area as a whole, one in almost nine households (11.4%) was in arrears with payments on rent/mortgage, uhtility bills and/or hirepurchase/loan agreements. These averages conceal a wide variation in the levels and nature of the financial difficulties being faced by households in individual countries. At one extreme, in more than three in ten households in Bulgaria, Greece and Romania were in arrears. The ...

2010

Debt and Austerity, 2020

RePEc: Research Papers in Economics, 2007

2000

Prague Economic Papers, 2014

The paper attempts to analyse the effects of the cumulated public sector debt (in this relation essentially government debt and family debt), primarily on the development of the population´s standard of living. In this regard, the paper quantifies the impact of debt on the real standard of living - whether we define it merely as the ability to consume, or broadly as the sum of multiple criteria including, for instance, the quality of the environment. This quantification uses data from the economy of the Czech Republic; however, this method can be in principle used for other national economies, but must be adjusted to reflect the specific features of their development. Using the analysis of time series, the paper investigates some other aspects of the debt situation of families in the Czech Republic, especially the development of the relationship between families´ savingsand debt, and finds that debt prevails over savings in the long run. Several conclusions for the future can be der...

2019