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Erschienen in:
2017 | OriginalPaper | Buchkapitel
19. Labour Productivity and Labour Market Conditions Impact on Household Debt
verfasst von : Nombulelo Gumata, Eliphas Ndou
Erschienen in: Labour Market and Fiscal Policy Adjustments to Shocks
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Abstract
This chapter explores whether the labour productivity and labour market conditions play a role in establishing the Mian et al. (2015) hypothesis in South African household debt dynamics. Evidence confirms the existence of credit demand and supply hypothesis. Labour productivity and the labour market conditions play an important role in transmitting adverse loan supply and aggregate demand shocks to household debt growth. This means policymakers should consider the transmissions and amplification effects of labour productivity and labour market conditions in the design of macro-prudential and financial regulatory tools aimed at dealing with the supply and demand for credit in pursuit of the financial stability objective.