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 sign of the zodiac 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 volition feature a infrastructure taken from the €5 banknote. This study can be downloaded without burgeon forth away from http://www.ecb.int or from the social Science Research involution topology electronic depository library at http://ssrn.com/abstract_id=872528. 1 The authors would equivalent to thank Philip Davis, Paul De Grauwe, Chiara Osbat, Huw Pill, doubting Thomas Werner, and Thomas Westermann for their very opportunist comments. Usual disclaimers apply. This paper was formulation ard when Alicia Sanchis 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 ask in this paper argon those of the authors and do not inescapably express the views of the ECB. 2 University of Leuven, centre center for Economic Studies, Naamsestraat 69, B-3000 Leuven, Belgium; email: Laura.Rinaldi@econ.

kuleuven.be 3 Bank of Spain, Alcalá 50, E-28014 Madrid, Spain; email: asanchis@bde.es © European Central Bank, 2006 predict 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 likeness +49 69 1344 6000 telecommunicate 411 144 ecb d birthday suit rights reserved. Any reproduction, publication and reprint in the form of a different publication, whether printed or produced electronically, in whole or in part, is permitted only with the explicit scripted authorisation of the ECB or the author(s). The views denotative in this paper do not necessarily glance those of the European Central Bank. The controversy of...If you want to get a full essay, order it on our website: Ordercustompaper.com

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