Debt and financial expectations: An individual- and household-level analysis

被引：54

作者：

Brown, S ^{[1
]}

Garino, G ^{[1
]}

Taylor, K ^{[1
]}

Price, SW ^{[1
]}

机构：

[1] Univ Leicester, Leicester LE1 7RH, Leics, England

来源：

ECONOMIC INQUIRY | 2005年 / 43卷 / 01期

关键词：

D O I：

10.1093/ei/cbi008

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In this article we show that optimistic financial expectations impact positively on both the quantity of debt and the growth in debt at the individual and household levels. Our theoretical model shows that this association is predicted under a variety of plausible scenarios. In the empirical analysis we explore the determinants of debt and of growth in debt using British data. We find convincing support for our theoretical priors and show that it is optimistic financial expectations per se that are important in influencing debt, rather than the accuracy of individuals' predictions regarding their future financial situation.

引用

页码：100 / 120

页数：21

共 40 条

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[2] CONSUMER CONFIDENCE AND RATIONAL-EXPECTATIONS - ARE AGENTS BELIEFS CONSISTENT WITH THE THEORY [J].