more likely to enter forbearance, irrespective of income shocks. Mortgage payment suspension increases consumption and …

This paper studies the consumption response to an increase in the domestic value of foreign currency household debt … during a large depreciation. We use detailed consumption survey data that follows households for four years around Hungary …'s 2008 currency crisis. We find that, relative to similar local currency debtors, foreign currency debtors reduce consumption …

We study whether the level of household indebtedness is related to the interest rate elasticity of private consumption …. Looking at Finnish aggregate data, we find no robust evidence of increased interest rate elasticity of private consumption … period, which may have contributed towards muting the sensitivity of private consumption to interest rates even as aggregate …

This paper studies the direct impact of households' debt on consumption over the business cycle. We use household … leverage, consumption, and asset prices. We find that debt levels exert a negative impact on consumption, which is particularly …' debt in past periods are not relevant in determining consumption; (ii) households adjust faster their consumption to debt …

high-cost consumption loans. I investigate the extent to which adverse events drive loan demand, or if it is more likely to …

Using administrative data on mortgages issued in Italy between 2018 and 2019, this paper estimates loan demand …

financial shocks over time, decreasing the value of consumption smoothing from insurance. We derive formulas for the value of …