The Determinants of Household Debt Holding: An Empirical Analysis

  • Daniela Vandone
  • Cristina Ottaviani
Part of the Palgrave Macmillan Studies in Banking and Financial Institutions book series (SBFI)


As already pointed out in Chapter 2, the theoretical economic framework for indebtedness decisions is developed within inter-temporal consumption choice models which are based on the economic rationality of individuals, who seek to increase their living standards and maximise their expected utility by smoothing consumption over different periods of their lives through saving and borrowing decisions.


Risk Tolerance Consumer Credit Hyperbolic Discount Debt Market Secured Debt 
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Copyright information

© Daniela Vandone and Cristina Ottaviani 2011

Authors and Affiliations

  • Daniela Vandone
  • Cristina Ottaviani

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