Debt giveth and debt taketh away: mortgage debt burdens in Ireland
研究了2008至2014年间爱尔兰家庭债务减少五分之一的现象，发现年轻借款人（1970年后出生）债务降幅（13%）远小于年长借款人（1960年前出生，降幅35%），原因在于年轻借款人抵押贷款更大、剩余期限更长，且更易受未来利率上升风险影响。
Households reduced their debt levels by a fifth between 2008 and 2014. This pattern of deleveraging differs markedly across the age distribution. Young borrowers (born after 1970) reduced their debt levels by 13% compared to 35% for Older borrowers (born before 1960). The difference arises because Young borrowers have larger mortgages - and longer remaining loan durations, and therefore a greater share of repayments is an interest payment. Mortgage repayments for the typical tracker borrower have fallen by 34% since 2008. SVR borrowers’ repayments have fallen by just 9%. Relative to Older borrowers, Young borrowers are more likely to be on a tracker rate, reflecting the mortgage products available at loan origination. However, Young borrowers continue to face a heavy debt-burden and are at risk of higher interest rates in the future.