Aller Arranz, CarlosGrant, CharlesUCH. Departamento de Economía y EmpresaProducción Científica UCH 20182019-02-212019-02-212018-06-01Aller, C. & Grant, C. (2018). The effect of the financial crisis on default by Spanish households.Journal of Financial Stability, vol. 36 (june 2018), pp. 39-52. DOI: https://doi.org/10.1016/j.jfs.2018.02.0061572-3089.http://hdl.handle.net/10637/10002Este artículo se encuentra disponible en la página web de la revista en la siguiente URL: https://www.sciencedirect.com/science/article/pii/S157230891630225XWe analyse the default behaviour of Spanish households immediately before and after the recent financialcrisis. Using several waves of the Survey of Household Finances (a tri-annual survey of financial positionof Spanish households), we show that younger, poorer and less well educated households are mostlikely to default. A key contribution is to explain the change in arrears since the onset of the crisis.Using information on credit applications and acceptances we decompose the change in arrears among allhouseholds into a contribution from four parts: (i) changes in characteristics; (ii) changes in applications;(iii) changes in acceptances; (iv) changes in arrears among borrowers. We show the last is the most important contribution.application/pdfesDebt - Spain.Financial analysis - Spain.Crisis financiera - España.Financial crises - Spain.Mortgage loans - Spain.Deudas - España.Crédito hipotecario - España.Análisis financiero - España.Spain - Economic conditions.España - Situación económica.Artículohttps://doi.org/10.1016/j.jfs.2018.02.006https://creativecommons.org/licenses/by-nc-nd/4.0/deed.es