Author (Person) | Chmelar, Ales |
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Series Title | ECRI Commentary |
Series Details | No. 12, 22 November 2012 |
Publication Date | 22/11/2012 |
Content Type | Journal | Series | Blog |
Abstract: The second-dip recession in Europe’s periphery has created a poisonous mix, which risks threatening further the financial system and the economy. Against this background, this ECRI Commentary argues that time matters in the household deleveraging cycle and that a swift recovery is one of its most vital parts. The paper also assesses the extent to which self-feeding phenomena related to household debt have already materialised and evaluates the risks for countries that have so far been spared their full effects. It also offers a theoretical policy response towards a more sustainable household credit sector and overall economic recovery. |
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Source Link | http://aei.pitt.edu/37846/1/ECRI_commentary_No_12_Chmelar_Household_deleveraging.pdf |
Countries / Regions | Europe |
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