Aller au contenu principal
A propos d'HEC A propos d'HEC Faculté et Recherche Faculté et Recherche Grande Ecole
& Masters Grande Ecole
& Masters
MBA Programs MBA Programs Programme PhD Programme PhD Executive Education Executive Education Summer School Summer School HEC Online HEC Online
A propos d'HEC En bref En bref Qui sommes-nous ? Qui sommes-nous ? Egalité des chances Egalité des chances HEC Talents HEC Talents International International Vie du campus Vie du campus Développement durable Développement durable Diversité et inclusion Diversité et inclusion Stories Stories Fondation HEC Fondation HEC Coronavirus Coronavirus Faculté et Recherche À propos À propos Corps professoral Corps professoral Départements Départements Centres Centres Chaires Chaires Knowledge Knowledge Grande Ecole
& Masters
Grande Ecole
Master in Management Grande Ecole
Master in Management
Master in International
Finance Master in International
Finance
MS
et Masters MS
et Masters
Programmes Ecole
Polytechnique-HEC Programmes Ecole
Polytechnique-HEC
Doubles Diplômes
en Admission directe Doubles Diplômes
en Admission directe
Visiting
students Visiting
students
Certificats Certificats Vie
Etudiante Vie
Etudiante
MBA Programs MBA MBA Executive MBA Executive MBA TRIUM EMBA TRIUM EMBA Programme PhD Overview Overview HEC Difference HEC Difference Program details Program details Research areas Research areas HEC Community HEC Community Placement Placement Job Market Job Market Admissions Admissions Financing Financing Executive Education Executive Masters Executive Masters Certificats Executive Certificats Executive Programmes courts Executive Programmes courts Executive Online Online Entreprises Entreprises Executive MBA Executive MBA Infinity Pass Infinity Pass Summer School Youth programs Youth programs Summer programs Summer programs HEC Online En bref En bref Programme diplômant Programme diplômant Certificats Executive Certificats Executive MOOCs MOOCs Summer Programs Summer Programs
Faculté et Recherche

Household Debt Revaluation & the Real Economy: Evidence from a Foreign Currency Debt Crisis

04 avr
2019
14H00
Jouy-en-Josas
Anglais

Participer

Ajouter au calendrier
2019-04-04T14:00:00 2019-04-04T15:15:00 Household Debt Revaluation & the Real Economy: Evidence from a Foreign Currency Debt Crisis Finance Speaker : Emil Verner Buil. T - Room T104  Jouy-en-Josas

Finance

Speaker : Emil Verner

Buil. T - Room T104 

We examine the real economic consequences of a sudden increase in house-hold debt burdens by exploiting spatial variation in exposure to household foreign currency debt during Hungary's late-2008 currency crisis. The revaluation of debt burdens leads to higher default rates and a collapse in spending. These responses translate into a worse local recession and depressed house prices. A 10 point increase in debt-to-income raises the unemployment rate by 0.6 percentage points, driven by employment losses at non-exporting firms. Consistent with demand externalities of debt financing, regional foreign currency debt has negative spillovers on nearby borrowers without foreign currency debt.

Cliquez ici pour télécharger le papier

Participer

Ajouter au calendrier
2019-04-04T14:00:00 2019-04-04T15:15:00 Household Debt Revaluation & the Real Economy: Evidence from a Foreign Currency Debt Crisis Finance Speaker : Emil Verner Buil. T - Room T104  Jouy-en-Josas