文章基本信息

标题：Debt and financial expectations: an individual and household level analysis
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作者：Sarah Brown ; Karl Taylor ; Gaia Garino 等
期刊名称：Discussion Papers / University of Leicester, Department of Economics
出版年度：2003
卷号：2003
出版社：Leicester
摘要：In this paper 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