Household Debt Relief, New data, Micro-Macro Perspectives
In light of the expanding availability of credit products, the rising number of households facing financial distress, and the considerable international disparities in household debt relief programs, the Swedish House of Finance organized a one-day Household Finance Workshop titled "Debt Relief: New Data, Micro-Macro Perspectives."
The workshop aims to harness economic insights that delve into the effects and underlying mechanisms of over-indebtedness and debt relief strategies, taking into account their institutional contexts. It will facilitate discussions on the impact of these elements on household behavior and examine their wider consequences for credit and labor markets, along with overall welfare.
The workshop featured the keynote of two renowned scholars who provided a different perspective on the topic:
Paul Goldsmith-Pinkham
Yale School of Management
Sasha Indarte
Wharton -University of Pennsylvania
Program
Panel
| 07:45 - 08:00 | Registration and Coffee |
| 08:00 - 09:15 | SHoF's seminar: Rethinking Household Debt Relief: Should Swedes Be More Forgiving? |
| Johan Almenberg, State Secretary to the Minister for Financial Markets | |
| Neale Mahoney, Professor of Economics at Stanford University | |
| Lena Pettersson, SVT journalist and author of the book Skuldsatt | |
| Fredrik Rosengren, Director General, Enforcement Authority | |
Academic Workshop
| 09:40 - 09:50 | Welcome |
| 09:50 - 10:30 | Keynote Presentation "What Limits Take Up of Household Debt Relief?" |
| Sasha Indarte, Wharton University of Pennsylvania | |
| 10:30 - 11:05 | "Household Debt Relief and the Debt Laffer Curve" |
| Győző Gyöngyösi, Utrecht School of Economics, Utrecht University | |
| Discussant: Kathrin Schlafmann, Copenhagen Business School | |
| 11:05 - 11:20 | Coffee |
| Session: Intergenerational transmission of Debt | |
| Chair: Paolo sodini, Stockholm School of Economics | |
| 11:20 - 11:55 | "Intergenerational Effects of Debt Relief: Evidence from Bankruptcy Protection" |
| Ankit Kalda, Kelley School of Business Indiana University | |
| Discussant: Andrew Hertzberg, Federal Reserve Bank of Philadelphia | |
| 11:55 - 12:30 | "Intergenerational Transmission of Financial Distress; The Role of Nature versus Nurture" |
| Paula Roth, Swedish House of Finance | |
| Discussant: Erik Lindqvist, Stockholm University | |
| 12:30 - 13:30 | Lunch |
| 13:30 - 14:10 | Keynote Presentation: "Why Should the Social Planner Want Debt Relief?" |
| Paul Goldsmith-Pinkham, Yale School of Management | |
| 14:10 - 14:45 | "Loan Maturity and Labor Supply: Evidence from Small Businesses in Financial Distress" |
| Christopher Eaglin, Duke University | |
| Discussant: Daniel Paravisini, London School of Economics | |
| 14:45 - 15:00 | Coffee |
| Session: Debt and Health | |
| Chair: Elin Molin, Lund University | |
| 15:00 - 15:35 | "The Effects of Individual Debt Relief on Health" |
| Jonas Maibom, Aarhus University | |
| Discussant: Dániel Kárpáti, Erasmus University Rotterdam | |
| 15:35 - 16:10 | "The Effects of Medical Debt Relief:Evidence from Two Randomized Experiments" |
| Francis Wong, Ludwig-Maximilians University of Munich | |
| Discussant: Kim Fe Cramer, London School of Economics | |
| 16:10 - 16:25 | Break |
| Session: Drivers of Debt and Labor | |
| Chair: Gualtiero Azzalini, Stockholm School of Economics | |
| 16:25 - 17:00 | "Microfounding Household Debt Cycles with Extrapolative Expectations" |
| Xiao Yin, University College London | |
| Discussant: Laura Gáti, European Central Bank | |
| 17:00 - 17:35 | "Insurance versus Moral Hazard in Income contingent student loan repayment" |
| Tim de Silva, Stanford Institute for Economic Policy Research | |
| Discussant: Mehran Ebrahimian, Stockholm School of Economics | |
| 17:35 - 18:35 | Drinks |