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 Centre Carrières Centre Carrières International International Vie du campus Vie du campus 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
Programme
Grande Ecole Programme
Grande Ecole
MSc International
Finance MSc International
Finance
MS et MSc MS et MSc Programmes
X-HEC Programmes
X-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 Mastères Executive Mastères Certificats Executive Certificats Executive Programmes courts Executive Programmes courts Executive Online Online Formez vos équipes Formez vos équipes Executive MBA Executive MBA Summer School Summer programs Summer programs Youth Leadership Initiative Youth Leadership Initiative Admissions Admissions FAQ FAQ HEC Online En bref En bref Programme diplômant Programme diplômant Certificats Executive Certificats Executive MOOCs MOOCs
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