Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/153853
Authors: 
Rubaszek, Michał
Serwa, Dobromil
Year of Publication: 
2012
Series/Report no.: 
ECB Working Paper 1420
Abstract: 
This paper applies a life-cycle model with individual income uncertainty to investigate the determinants of credit to households. We show that the value of household credit to GDP ratio depends on (i) the lending-deposit interest rate spread, (ii) individual income uncertainty, (iii) individual productivity persistence, and (iv) the generosity of the pension system. Subsequently, we provide empirical evidence for the predictions of the theoretical model on the basis of data for OECD and EU countries.
Subjects: 
banking sector
Household credit
life cycle economies
JEL: 
E21
E43
E51
Document Type: 
Working Paper

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