Household Optimism and Overborrowing
Hyytinen, Ari; Putkuri, Hanna (22.01.2018)
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Volyymi
50Numero
1; February 2018
2018
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:bof-201803221381Tiivistelmä
We use Finnish household-level data from 1994 to 2013 to measure how often and what kind of forecast errors households make and how the errors are linked to the households' borrowing behavior and overindebtedness. We find that those households that make the largest optimistic forecast errors have greater debt-to-income ratios. They also are more likely to report that they suffer from excessive debt loads and have problems in coping with their bills. There are no such systematic effects for the households that make pessimistic forecast errors.
Julkaisuhuomautus
Published in Bank of Finland Research Discussion Papers 21/2012.
http://urn.fi/URN:NBN:fi:bof-20140807347
http://urn.fi/URN:NBN:fi:bof-20140807347