Household balance sheet adjustment a long process – Danish study
Authors also find consumption impact of rate hike is “modest”
Consumption in Denmark took a long time to recover from the 2008 financial crisis, implying the process of household balance sheet adjustment is a long one, according to a working paper published by on June 29 by the National Bank of Denmark.
Consumption and savings in a low interest-rate environment by Simon Juul Hviid and Andreas Kuchler studies how patterns of consumption and saving changed around the crisis and in the recent period of very low interest rates. The authors find debt still
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