Exploring Differences in Household Debt across the United States and Euro Area Countries
利用美国和10个欧元区国家的家庭微观数据，比较家庭债务的普遍性、规模和负担，发现美国经济环境与更高的债务持有倾向相关，尤其在抵押贷款方面。
Abstract Household debt has played a central role in the global financial crisis, yet our understanding of it remains limited. We put U.S. household leverage in an international perspective, using household‐level data for the United States and 10 euro area economies. U.S. households have the highest prevalence of mortgage and consumer debt, hold comparatively large amounts and face higher debt burdens despite having higher income. We find that the U.S. economic environment is associated with a higher propensity to hold debt, primarily because a given level of collateral is associated with higher prevalence and larger amounts of mortgage debt in the United States.