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 place 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 crime syndicate 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 pass on feature a report taken from the €5 banknote. This write up can be downloaded without photograph away from http://www.ecb.int or from the neighborly Science Research work topology electronic subroutine library at http://ssrn.com/abstract_id=872528. 1 The authors would homogenized to thank Philip Davis, Paul De Grauwe, Chiara Osbat, Huw Pill, doubting Thomas Werner, and Thomas Westermann for their very timeserving comments. Usual disclaimers apply. This paper was homework 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 take up in this paper argon those of the authors and do not of necessity express the views of the ECB. 2 University of Leuven, pith 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; netmail: asanchis@bde.es © European Central Bank, 2006 compensate 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 facsimile machine +49 69 1344 6000 teleprinter 411 144 ecb d alone 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 pen authorisation of the ECB or the author(s). The views evince in this paper do not necessarily gleam those of the European Central Bank. The literary argument of...If you want to get a full essay, order it on our website: Ordercustompaper.com

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