Replication data for: The Consumption Effects of the 2007–2008 Financial Crisis: Evidence from Households in Denmark

Principal Investigator(s): View help for Principal Investigator(s) Thais Lærkholm Jensen; Niels Johannesen

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Project Citation:

Jensen, Thais Lærkholm, and Johannesen, Niels. Replication data for: The Consumption Effects of the 2007–2008 Financial Crisis: Evidence from Households in Denmark. Nashville, TN: American Economic Association [publisher], 2017. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-06. https://doi.org/10.3886/E116170V1

Project Description

Summary: Did the financial crisis in 2007–2008 spread from distressed banks to households through a contraction of the credit supply? We study this question with a dataset that contains observations on all accounts in Danish banks as well as comprehensive information about individual account holders and banks. We document that banks exposed to the financial crisis reduced their lending relative to nonexposed banks, which in turn caused a significant decrease in the borrowing and spending of their customers. The effects were persistent: borrowing remained lower through the postcrisis years and spending foregone during the crisis was not recovered.

Scope of Project

JEL Classification:
      D12 Consumer Economics: Empirical Analysis
      D14 Household Saving; Personal Finance
      E21 Macroeconomics: Consumption; Saving; Wealth
      E32 Business Fluctuations; Cycles
      G01 Financial Crises
      G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages

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Published Versions

V1 [2019-12-06]

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