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School of Economics and Finance, Queen Mary, University of London >
Working Paper Series, School of Economics and Finance, Queen Mary, University of London >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/55160
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Hintermaier, Thomas | | en_US |
| dc.contributor.author | | Koeniger, Winfried | | en_US |
| dc.date.accessioned | | 2012-02-09T14:06:25Z | | - |
| dc.date.available | | 2012-02-09T14:06:25Z | | - |
| dc.date.issued | | 2009 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/55160 | | - |
| dc.description.abstract | | We provide a model with endogenous portfolios of secured and unsecured household debt. Secured debt is collateralized by durables whereas unsecured debt can be discharged in bankruptcy procedures. We show that the model matches the main quantitative characteristics of observed wealth and debt portfolios in the US and some of the observed changes over time. Furthermore, we establish two quantitative results. Firstly, modest levels of risk aversion are necessary to match observed debt portfolios. Secondly, durables do not improve consumers' access to unsecured credit, and plausible variations of durable exemptions in bankruptcy procedures have very small effects on the equilibrium. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Queen Mary, Univ. of London, School of Economics and Finance London | | en_US |
| dc.relation.ispartofseries | | Working Paper // School of Economics and Finance, Queen Mary, University of London 646 | | en_US |
| dc.subject.jel | | E21 | | en_US |
| dc.subject.jel | | D91 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | household debt portfolios | | en_US |
| dc.subject.keyword | | durables | | en_US |
| dc.subject.keyword | | collateral | | en_US |
| dc.subject.keyword | | income risk | | en_US |
| dc.subject.keyword | | bankruptcy | | en_US |
| dc.subject.stw | | Private Verschuldung | | en_US |
| dc.subject.stw | | Konkurs | | en_US |
| dc.subject.stw | | Kreditsicherung | | en_US |
| dc.subject.stw | | Dauerhaftes Konsumgut | | en_US |
| dc.subject.stw | | Einkommen | | en_US |
| dc.subject.stw | | Risiko | | en_US |
| dc.subject.stw | | USA | | en_US |
| dc.title | | Debt portfolios | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 603365515 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | Working Paper Series, School of Economics and Finance, Queen Mary, University of London
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