This research examines psychological debt stress and changes in household debt holdings for consumers during the Great Recession using data from a monthly national U.S. household survey covering the period 2006 through 2012. Debt stress measures in the population rose by over 50% at the bottom of the recession. Determining relative stress for eight different types of household debt, we find that noncollateralized debts are more stressful than collateralized debt and that during the recession the composition of debt shifted away from collateralized debt and toward noncollateralized. Our empirical results show that women and Hispanics experienced higher measured levels of stress. (JEL D12, D18)
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据