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Title: Who is overindebted in the UK Authors:  Jonathan Crook - University of Edinburgh (United Kingdom) [presenting]
Abstract: Successive waves of the UK's Wealth and Assets Survey are used to answer two questions: what determines whether a household and a person are over-indebted? Which households/people would be over-indebted if they were given credit? We consider different definitions of being overindebted and investigate the sensitivity of being overindebted to various household and personal characteristics, including levels and changes in employment status, income, state of health, degree of risk aversion and subjective discount rate. We do this by converting successive waves of the WAS into a panel structure at both household and personal levels. We estimate sample random effects and selection models. We analyse changes in the determinants of over-indebtedness over time.