Workshop on «Household debt, credit and demand risk»
Tuesday 24 March, Norges Bank
The intention of the workshop is to present and discuss how central banks analyse and address credit and demand risk related to high household debt. Micro data reveal significant heterogeneity across households, and the distribution of income, wealth and debt may affect aggregate outcome.
Central bank economists from the Nordic countries, Irland, the UK and ECB are attending the workshop and presenting analyses based on micro data. In addition, the Ministry of Finance and Finanstilsynet (the Norwegian FSA) participated.
Organizers: Kjersti-Gro Lindquist and Bjørn Helge Vatne (NB Financial Stability).
Program, presentations and photos
Chair: Kjersti-Gro Lindquist (NB Financial Stability)
9:10 – 10:00: Miguel Ampudia (ECB): Household heterogeneity in the euro area since the onset of the great recession
10:00 – 10:50: Bjørn Helge Vatne and Kjersti-Gro Lindquist (Norges Bank): Household micro data in stress testing and macroprudential policy at Norges Bank
Chair: Bjørn Helge Vatne (NB Financial Stability)
11:10 – 12:00: Philip Bunn (Bank of England): Household debt and spending
12:00 – 12:50: Yvonne McCarthy (Central Bank of Ireland): Deleveraging in a highly indebted property market: Who does it and are there implications for household consumption?
Chair: Katrine Godding Boye (NB Financial Stability)
13:50 – 14:40: Andreas Kuchler (Danmarks Nationalbank): The wealth and debt of Danish families
Chair: Andreas Fagereng (Norges Bank/Statistics Norway)
14:50 – 15:40: Jakob Winstrand (Sveriges Riksbank): Household debt in Sweden
15:40 – 16:30: Örn Hauksson (Central Bank of Iceland): Household debt, restructuring and risks
Miguel Ampudia, ECB
Philip Bunn, Bank of England
Yvonne McCarthy, Central Bank of Ireland
Andreas Kuchler, Danmarks Nationalbank