Household Debt Revaluation and the Real Economy: Evidence from a Foreign Currency Debt Crisis
<jats:p> We examine the consequences of a sudden increase in household debt burdens by exploiting variation in exposure to household foreign currency debt during Hungary’s late-2008 currency crisis. The revaluation of debt burdens causes higher default rates and a collapse in spending. These r...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
American Economic Association
2021
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| Online Access: | https://hdl.handle.net/1721.1/135262 |