Christian Beer () (Oesterreichische Nationalbank) Martin Schürz () (Oesterreichische Nationalbank)
Abstract
The level of household debt has risen in many countries, including Austria. This study examines whether the increased level of debt represents a risk to financial stability. The data used are mainly derived from a survey on households’ financial wealth conducted by the Oesterreichische Nationalbank (OeNB). Analysis shows that high-income households tend to have more debt than low-income households; the latter, however, are more burdened by their debt. Demand for consumer loans tends to be highest among high-income households with little financial assets. As high debt levels are mostly concentrated among affluent and high-income households, household debt in Austria does not constitute a threat to financial stability. Borrowers with lower incomes and/or low levels of wealth are particularly vulnerable borrowers. JEL classification: D12, D14, D91
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Volume (Year): (2007) Issue (Month): 2 (August 2007) Pages: 58-79 Download reference. The following formats are available: HTML
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