The studies deal with analysis of household indebtedness evolution. There is examined causes and consequences of development of debt. Work describes evolution of household indebtedness in banking and non-banking institution. It evaluates influencing factors of household debt. It provides comparison of indebtedness Czech households compared with households of EU countries.

The thesis is focused on the analysis of the macroeconomic relationships of the growth of indebtedness of Czech households in 2000 - 2015. The aim of the diploma thesis is to find the main causes of household indebtedness growth and to identify the influence of this process on selected macroeconomic variables. The theoretical part of the diploma thesis deals with money creation, monetary and fiscal policy, the role of money in economic cycles and economic theories of household consumption. The practical part focuses more closely on debt development, its structure and sociodemographic structure of indebted households. The thesis describes the causes of household indebtedness growth, impacts on selected macroeconomic variables, ability of households to meet their financial obligations and, last but not least, international comparisons with selected EU countries. The diploma thesis brings a comprehensive view of the debt of Czech households in the period 2000 - 2015. At the end of the thesis, it explains the main causes and consequences of the growing indebtedness of households, together with the international comparison and the sociodemographic characteristic of indebted households.

The thesis is concerning household indebtedness through credit cards, funding of these credits and how the consumer is affected. The focus is mainly on the current situation in the United States, nevertheless some observations from the former Korean credit card crisis are pointed out. The thesis describes the development of the credit card debt and identifies reasons and consequences of the expansion. The role of the state as setting conditions of the market and solving possible market failure is also mentioned.

The 2007-2008 US subprime mortgage crisis evolved into a financial crisis that negatively affected many economies in the world and therefore it was widely referred to as the global financial crisis. Since the beginning of this financial crisis of 2008-2009, South Africa experienced a significant increase in its household debt to income ratio. In the main, the aim of this dissertation is to investigate the prominent factors contributing to the rise in the level of household debt in South Africa. Also, we study the response of household debt to various shocks originating from the aforementioned crisis. Additionally, in the context of our timeline (1985 Q1-2012 Q1) we will extrapolate possible graphical trends in the rise and fall of household indebtedness in South Africa associated with various crises. Working from past research papers and a theoretical framework developed by Franco Modigliani and Milton Friedman, seven macroeconomic variables will be considered to examine the rise of household borrowing to income namely; the real house price index, consumer price index. real income, real prime rate, real household consumption expenditure, real gross domestic product and real household savings. Both a long-run cointegration analysis and a short-run error correction model will be used to evaluate the relationship between household debt and the chosen variables by estimating a Vector Error Correction Model. Furthermore, the Variance Decomposition and the Generalized Impulse Response Function will be utilized to assess the impact of household debt to various shocks emanating from the 2008-2009 financial crisis. The different models and tests conducted in this research will be executed using the statistical software package EVIEWS 7. Based on the results, household debt was seen to have been fairly affected by the 2008-2009 financial crisis. The cointegration analysis maintains that in the long run, household borrowing is positively and significantly determined by consumer price index and real household consumption. In addition, it confirms that household borrowing is negatively affected by real household income and real GOP. The rest of the variables were found insignificant. Nevertheless, the short run error correction model reveals that about 3.6% of the disequilibrium will be corrected each quarter for the equilibrium state to be restored. Also, the Variance Decomposition results confirmed that the South African household debt is mostly affected by shocks from real house price index, real household income, real household consumption and real household savings, respectively. Furthermore, the Generalized Impulse Response Function results established the significant positive response of household debt to a shock from real house price index and real household consumption. The response of debt to shocks from consumer price index, real household savings and real income is negative and this outcome is confirmed by the theory. However, the response of debt shows fluctuating behaviours to shocks from LRIN, LRPR and LRGDP over the estimated period. In conclusion, our econometric investigation highlighted the main causes of the high levels of household debt in South Africa both in the short and long run. The Generalized Impulse Response Functions confirm that shocks like the occurrence of the 2007-2008 financial crisis will have a significant impact on real house price index, consumer price index, real household consumption and real household savings. The Engle granger results show that there exist no significant relationship between household debt and unemployment in South Africa over the period 1980 to 2010. However, we propose that this result may have been significant if quarterly unemployment data was available and included in the main data set. Finally, based on the stability, validity and reliability of our model, we recommend its use to facilitate policy analysis and decision making regarding household debt levels in South Africa. / Thesis (M.Com.( Economics) North-West University, Mafikeng Campus, 2012

The aim of this diploma theses is to identify possible causes of rapidly rising household debt in the Czech republic at the beginning of the 21st Century and its impact on macroeconomic aggregate indicators. The theoretical part deals with the credit expansion in economic theory, money creation, effects of changes in money supply, monetary and fiscal policy. The analytical part of the thesis evaluates the growth of indebtedness of Czech households in terms of various indicators, debt structure, reasons of growing household debt and other macroeconomic context. The issue of households debt problems and the ability to repay their obligations is mentioned as well as the comparison with developed economies.

Orientador: José Carlos de Souza Braga / Dissertação (mestrado) - Universidade Estadual de Campinas, Instituto de Economia / Made available in DSpace on 2018-08-17T14:14:54Z (GMT). No. of bitstreams: 1 Teixeira_LucasAzeredodaSilva_M.pdf: 2429408 bytes, checksum: 63f83d0828c01c76f9abcb7f264cb891 (MD5) Previous issue date: 2010 / Resumo: Esta dissertação discute as origens do processo que mais chamou atenção na economia norte-americana, antes da eclosão da crise do subprime: o crescente endividamento do consumidor. Partindo da idéia de que este "modelo" da economia americana não poderia ser imitado por nenhum outro país, buscam-se as origens das assimetrias do sistema monetário internacional no ocaso de Bretton Woods e no surgimento do atual padrão monetário internacional. Em seguida, é exposta a trajetória de endividamento/enriquecimento líquido dos macrossetores institucionais da economia norte americana, para, desta forma, mostrar um dos principais fatos estilizados da economia norte-americana: o crescente endividamento das famílias a partir dos anos 1980. Estas mantiveram, de forma geral, um padrão de gastos menor que o fluxo de rendas, de modo a terem um superávit financeiro (enriquecimento líquido) até então. A partir do início dos anos 1980, este superávit reduziu-se paulatinamente, devido ao crescente endividamento, alcançando valores negativos e crescentes, na segunda metade dos anos 1990. Segundo a hipótese adotada neste trabalho, as causas deste endividamento são encontradas na mudança na distribuição de renda (aumento da concentração) e nas desregulamentações e inovações financeiras, que se desenvolvem a partir do fim dos anos 1970. Tendo em vista que este aspecto vem sendo bem explorado na literatura especializada, a dissertação concentra sua explicação na mudança no padrão de distribuição de renda. Analisando por esse prisma, chega-se a conclusão que não se trata de endividamento das famílias, ou dos consumidores, mas, mais especificamente, dos trabalhadores norte-americanos, que tiveram que se endividar para financiar seus gastos, em um contexto de salários reais estagnados. Por fim, os rumos da economia norte-americana pós-crise são brevemente avaliados / Abstract: The purpose of this dissertation is to discuss the origins of a critical process in the North American economy before the subprime crisis, namely, the increasing debt of households. Considering that north-american economic "model" couldn't be copied by any other country, the origins of the asymmetries within the international monetary system(s) are pursued in the Bretton Woods case, as well as, the development of the current international monetary pattern. Then the net-borrowing path of institutional macro sectors are presented as contributing factors containing strong evidence for one of the more significant and stylized facts of North American economy, i.e. the growing debt of primarily American households since the 1980s. Prior to this, spending, in general, was notably less than their annual income flow, resulting in a financial surplus. Beginning in the 1980s, this surplus had been gradually reduced due to an increasing indebtedness and, in the second half of the 1990s, a mounting deficit was introduced. It is argued that the causes of this indebtedness are alterations in income distribution (an increased concentration of income) and the process of financial deregulation and innovation, developed in the late 1970s. Considering that the latter has previously been explored in great detail, this particular examination explores the changes on income distribution pattern. Based on this perspective, it is concluded that the indebtedness does not come from families or households in general but, more specifically, from North American workers, who had to finance their spending through an on-going stagnation, or even deterioration, of the real wages at their disposal. Further, the direction of the North American economy after the crisis is evaluated in the contexts of these findings / Mestrado / Ciências Economicas / Mestre em Ciências Econômicas

The thesis deals with the analysis of the development of the fast-paced debt growth of Polish and Czech economies in the years between 2000 and 2010. It focuses on the most debt-ridden sectors; those of households and government institutions. The thesis identifies the causes of the dynamic debt increase of these sectors in both economies. The outcome of the analysis is also the evaluation of the debt expansion influence on the growth of GDP. The evaluation is based on the available data from the databases of statistical offices and central banks. The cause behind the debt of households is a confluence of several factors both on the part of demand and offer. Apparently, the key factor is the relaxed monetary policy of the central bank. The cause of government institutions debt are predominantly the anually created state budget deficits, and thus maintained an expansive character of the fiscal policies. Debt therefore additionally stimulated the economies in what already was a period of growth.

The master´s thesis analyses consumer loans provided by selected bank and non-bank entities within the Czech financial market. The main objective of the thesis, as well as the subject matter of its practical part, is to analyse the offers of particular bank and non-bank consumer loan providers and compare their financial advantages on sample examples of selected consumer loans. Partial goals of theoretical part of the thesis include closer presentation of the subject-matter of consumer loans, definition of the basic concepts and brief explanation of relevant law. The thesis also incorporates the evaluation of indebtedness development of Czech households.