Format:
1 Online-Ressource (circa 26 Seiten)
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Illustrationen
ISBN:
9781513516073
Series Statement:
IMF working paper WP/19, 258
Content:
High household indebtedness could constrain future consumption growth and increase financial stability risks. This paper uses household survey data to analyze both macroeconomic and finanical stability risks from the rapidly rising household debt in China. We find that rising household indebtedness could boost consumption in the short term, while reducing it in the medium-to-long term. By stress testing households' debt repayment capacity, we find that low-income households are most vulnerable to adverse income shocks which could lead to signficant defaults. Containing these risks would call for a strengthening of systemic risk assessment and macroprudential policies of the household sector. Other policies include improving the credit registry system and establishing a well-functioning personal insolvency framework
Additional Edition:
Erscheint auch als Druck-Ausgabe Han, Fei Assessing Macro-Financial Risks of Household Debt in China Washington, D.C. : International Monetary Fund, 2019 ISBN 9781513516073
Language:
English
Keywords:
Graue Literatur
DOI:
10.5089/9781513516073.001
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