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The role of financial position on consumer indebted-ness. An empirical analysis in Italy

Barbara Cavalletti (), Corrado Lagazio (), Daniela Vandone () and Elena Lagomarsino
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Barbara Cavalletti: University of Genoa, Italy
Corrado Lagazio: University of Genoa, Italy

No 8/2012, DEP - series of economic working papers from University of Genoa, Research Doctorate in Public Economics

Abstract: The paper focuses on the consumer credit market in Italy and on the related risk of over-indebtedness. Using survey panel data, we investigate the impact of overindebtedness on consumption behaviour, evaluating in particular if consumer credit is used to cover gaps in income and if this is associated with an increased and diffused inadequacy of financial and economic conditions of indebted households. Results highlight that a relatively consistent part of consumer credit is concentrated in the hands of financially fragile individuals. Moreover, when considering the amount of debt measured in relative terms, being in a difficult financial position adds 1.0 percentage points to the risk of over-indebtedness compared to households without any financial and economic difficulty

Keywords: household indebtedness; consumer credit; over-indebtedness; permanent income hypothesis (search for similar items in EconPapers)
JEL-codes: C21 D12 D14 D91 G21 (search for similar items in EconPapers)
Date: 2012-09
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