a column by Johan Almenberg, Annamaria Lusardi, Jenny Säve-Söderbergh and Roine Vestman for VOX: CEPR’s Policy Portal
Household indebtedness is high in many countries, and continues to rise.
This column uses data from Sweden to argue that evolving attitudes toward debt may help explain the observed increase. Individuals who report being comfortable with debt have considerably more of it, and they are more likely to have parents who were also comfortable with debt.
For others, discomfort with debt may act as a self-imposed borrowing constraint.
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