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The Effect of Debt Burden on Consumption of Household : 부채 부담이 가계소비에 미치는 영향
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- Authors
- Advisor
- 김소영
- Major
- 사회과학대학 경제학부
- Issue Date
- 2017-08
- Publisher
- 서울대학교 대학원
- Keywords
- Household consumption ; household debt ; debt-to-income ratio ; financial crisis
- Description
- 학위논문 (석사)-- 서울대학교 대학원 사회과학대학 경제학부, 2017. 8. 김소영.
- Abstract
- This paper analyzes whether household debt burden affects household consumption
and if so, whether its impact differed before and after the financial crisis of 2008. These questions are addressed by means of regression analyses that include debt burden as an independent variable, to examine the extent to which debt burden affects consumption. The models replace debt burden with debt-to-income ratio (DTI) or change in debt. To check the robustness of the regressions, alternative regressions with interaction terms, and with log variables are also examined. The results show that debt burden negatively affects household consumption, and such influence was especially pronounced in absolute value immediately after the 2008 financial crisis.
- Language
- English
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