Arbeitspapier
Household balance sheets and economic crisis
This paper studies the economic impact of the current global economic downturn on the household sector. Household budgets can be negatively affected by declines in nominal wages and increases in unemployment. We empirically test this effect for the small open emerging economy. As a result of a lack of individual data on household finances, micro data are simulated. Our analysis clearly shows that there is a significant additional decline in consumption related to an increase in household default rates and unemployment. We find that potential household insolvencies have important implications for the financial system as well as for the macroeconomy.
- Sprache
-
Englisch
- Erschienen in
-
Series: IES Working Paper ; No. 20/2011
- Klassifikation
-
Wirtschaft
Financial Institutions and Services: Government Policy and Regulation
Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
Bankruptcy; Liquidation
Corporate Finance and Governance: Government Policy and Regulation
- Thema
-
credit cycle
households' distress
insolvency
household default
aggregate consumption
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Jakubík, Petr
- Ereignis
-
Veröffentlichung
- (wer)
-
Charles University in Prague, Institute of Economic Studies (IES)
- (wo)
-
Prague
- (wann)
-
2011
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Jakubík, Petr
- Charles University in Prague, Institute of Economic Studies (IES)
Entstanden
- 2011
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