Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/55160 
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dc.contributor.authorHintermaier, Thomasen
dc.contributor.authorKoeniger, Winfrieden
dc.date.accessioned2012-02-09T14:06:25Z-
dc.date.available2012-02-09T14:06:25Z-
dc.date.issued2009-
dc.identifier.urihttp://hdl.handle.net/10419/55160-
dc.description.abstractWe 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
dc.language.isoengen
dc.publisher|aQueen Mary University of London, Department of Economics |cLondonen
dc.relation.ispartofseries|aWorking Paper |x646en
dc.subject.jelE21en
dc.subject.jelD91en
dc.subject.ddc330en
dc.subject.keywordhousehold debt portfoliosen
dc.subject.keyworddurablesen
dc.subject.keywordcollateralen
dc.subject.keywordincome risken
dc.subject.keywordbankruptcyen
dc.subject.stwPrivate Verschuldungen
dc.subject.stwKonkursen
dc.subject.stwKreditsicherungen
dc.subject.stwDauerhaftes Konsumguten
dc.subject.stwEinkommenen
dc.subject.stwRisikoen
dc.subject.stwUSAen
dc.titleDebt portfolios-
dc.typeWorking Paperen
dc.identifier.ppn603365515en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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