households. We show that the value of household credit to GDP ratio depends on the lending-deposit interest rate spread …

households. We show that the value of household credit to GDP ratio depends on (i) the lending-deposit interest rate spread, (ii …

We provide a novel explanation to the longstanding puzzle of the “missing bankruptcy filings.” Even though a household … delaying the filing. Household bankruptcy is thus an American-style put option, which is not necessarily exercised even if the … option is "in the money." Based on the value functions in the household's dynamic programming problem, we formulate the value …

hypothesis, which is undoubtedly the most widely used theoretical model of household behavior in economics, and then survey the … literature on household saving behavior in Japan (with emphasis on the author's own past research) to shed light on whether or …

We study whether the level of household indebtedness is related to the interest rate elasticity of private consumption … even as the household sector's debt-to-income ratio has almost doubled in the past 20 years. Estimates based on the … household-level Finnish Wealth Survey suggest that the share of liquidity-constrained households has declined over the same time …