Household Debt

A Household Debt is a debt held by a Household.

• Context:
  • It can be composed of Unsecured Household Debt to Secured Household Debt.
  • It can be a part of a Regional Household Debt, such as a US Household Debt.
  • It can range from being a Low Household Debt to being a Medium Household Debt/Median Household Debt/Mean Household Debt to being a High Household Debt.
  • …
• Example(s):
  • US Household Debt, German Household Debt, Chinese Household Debt, ...
  • …
• Counter-Example(s):
  • Household Wealth.
  • Household Income.
  • a Business Debt.
  • a Government Debt.
• See: Gini Economic Index, Personal Savings Rate.

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References

2013a

• http://en.wikipedia.org/wiki/Household_debt
  • Household debt is defined as the amount of money that all adults in the household owe financial institutions. It includes consumer debt and mortgage loans. A significant rise in the level of this debt was a cause of the U.S. and European economic crises of 2007-2012. Several economists have argued that lowering this debt is essential to economic recovery in the U.S. and selected Eurozone countries.

2013b

• http://en.wikipedia.org/wiki/Household_debt#Overview
  • Household debt can be defined in several ways, based on what types of debt are included. Common debt types include home mortgages, home equity loans, auto loans, student loans, and credit cards. Household debt can also be measured across an economy, to measure how indebted households are relative to various measures of income (e.g., pre-tax and disposable income) or relative to the size of the economy (GDP).

2004

• (Hurst & Lusardi, 2004) ⇒ Erik Hurst, and Annamaria Lusardi. (2004). “Liquidity Constraints, Household Wealth, and Entrepreneurship." JSTOR. doi:10.1086/381478
  • QUOTE: Household wealth is defined as the sum of savings and checking accounts, bonds, stocks, individual retirement accounts, housing equity, other real estate, and vehicles, minus all debt.

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