Albacete, Nicolas; Fessler, Pirmin - In: Financial Stability Report (2010) 19, pp. 72-91
Over the past decades, household debt has increased sharply, both in absolute and relative terms, in almost all OECD countries. As the U.S. subprime crisis recently showed, even a relatively small number of indebted households can produce considerable turmoil if the sustainability of their debt...