experiences from Iceland, Ireland, Spain, and the United States, this paper discusses how economic trade-offs affecting mortgage …In housing crises, high mortgage debt can feed a vicious circle of falling housing prices and declining consumption and …

, Ireland, Italy, the Netherlands, Spain, and Portugal, over the sample period 1999-2016, i.e., the EMU period. The main … expansions in the small Euro-area open economies affected by high public and private debt. It is shown that the macroeconomic … outcome of fiscal shocks is strongly related to debt levels. The Euro-area countries included in the investigation are Greece …

and high household debt. The economic performance of the four continental Nordic economies (Denmark, Finland, Norway, and … support relatively high levels of private sector debt. House price developments in the Nordic-4 pose a risk to broader …

The private non-financial sector in Europe is facing increased challenges in meeting its debt servicing obligation. In …. For the corporate sector, efforts have focused on facilitating debt restruturing (including through out of court …