European Central Bank

WO R K I N G PA P E R S E R I E S N O. 5 7 0 / JA N UA RY 2 0 0 6 fellowship DEBT SUSTAINABILITY WHAT EXPLAINS HOUSEHOLD NON-PERFORMING LOANS? AN EMPIRICAL ANALYSIS by Laura Rinaldi and Alicia Sanchis-Arellano WO R K I N G PA P E R S E R I E S N O. 5 7 0 / J A N UA RY 2 0 0 6 HOUSEHOLD DEBT SUSTAINABILITY WHAT EXPLAINS HOUSEHOLD NON-PERFORMING LOANS? AN EMPIRICAL ANALYSIS by Laura Rinaldi and Alicia Sanchis-Arellano 1 2 3 In 2006 all ECB publications go forth feature a radical taken from the €5 banknote. This reputation can be downloaded without fritter away from http://www.ecb.int or from the friendly Science Research mesh topology electronic depository library at http://ssrn.com/abstract_id=872528. 1 The authors would homogeneous to thank Philip Davis, Paul De Grauwe, Chiara Osbat, Huw Pill, doubting Thomas Werner, and Thomas Westermann for their very expedient comments. Usual disclaimers apply. This paper was cookery ard when Alicia Sanc his was working at the ECB as National Expert on a secondment from the Banco de España and Laura Rinaldi was intern at the ECB. The views utter in this paper are those of the authors and do not inevitably express the views of the ECB. 2 University of Leuven, nerve center for Economic Studies, Naamsestraat 69, B-3000 Leuven, Belgium; netmail: Laura.Rinaldi@econ.

kuleuven.be 3 Bank of Spain, Alcalá 50, E-28014 Madrid, Spain; e-mail: asanchis@bde.es © European Central Bank, 2006 conduct Kaiserstrasse 29 60311 Frankfurt am Main, Germany postal address Postfach 16 03 19 60066 Frankfurt am Main, Germany scream +49 69 1344 0 Internet http://www.ecb.int f! acsimile +49 69 1344 6000 telex machine 411 144 ecb d altogether rights reserved. Any reproduction, publication and reissue in the form of a different publication, whether printed or produced electronically, in whole or in part, is permitted only with the explicit write authorisation of the ECB or the author(s). The views expressed in this paper do not necessarily glisten those of the European Central Bank. The averment of...If you want to get a full essay, order it on our website: BestEssayCheap.com

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