ECB economists find ‘considerable heterogeneity’ in impact of crisis

Euro sign, Frankfurt

Borrowers in the eurozone "benefited" from the substantial decrease in interest rates in the wake of the financial crisis, but the debt burden faced by poor households increased as their incomes fell, according to a working paper published by the European Central Bank (ECB) today.

In Household heterogeneity in the euro area since the onset of the great recession, Miguel Ampudia, Akmaral Pavlickova, Jiri Slacalek and Edgar Vogel find "considerable heterogeneity" in the impact of the crisis on

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