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Distinguishing the components of household financial wealth: the impact of liabilities on assets in Euro Area countries
Kukk, Merike - Eesti Pank - 2014
The paper investigates the interdependence of household financial liabilities and assets, with special focus on the … impact of liabilities on households’ holdings of financial assets. The paper uses the new ECB Household Finance and …’ financial liabilities and assets, taking account of endogeneity and selection bias. The results indicate that higher household …
Persistent link: https://www.econbiz.de/10010936667
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Distinguishing the Components of Household Financial Wealth: the Impact of Liabilities on Assets in Euro Area Countries
Kukk, Merike - International Institute of Social and Economic Sciences - 2014
studies treat household liabilities as negative assets and relate households’ decisions to their net wealth. However, the … decisions about their financial assets. The implication of household indebtedness for household behaviour is an important topic … as household debt volumes have increased markedly in developed countries over the last three decades. There is a long …
Persistent link: https://www.econbiz.de/10011210003
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Working Paper 181
Fidrmuc, Jarko; Stix, Helmut; Beckmann, Elisabeth - Oesterreichische Nationalbank - 2012
Given recent adverse developments, widespread foreign currency borrowing in CEECs poses a serious challenge for financial stability. Against this background, we use survey data to study the determinants of loan arrears of private households. Our data confirm a non-negligible impact of foreign...
Persistent link: https://www.econbiz.de/10010727798
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Foreign Currency Loans and Loan Arrears of Households in Central and Eastern Europe
Beckmann, Elisabeth; Fidrmuc, Jarko; Stix, Helmut - Oesterreichische Nationalbank - 2012
Given recent adverse developments, widespread foreign currency borrowing in CEECs poses a serious challenge for financial stability. Against this background, we use survey data to study the determinants of loan arrears of private households. Our data confirm a non-negligible impact of foreign...
Persistent link: https://www.econbiz.de/10010818090
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Financial Turmoil and the Choice of Exchange Rate Regime
Hausmann, Ricardo; Gavin, Michael; Pagés-Serra, Carmen; … - Inter-American Development Bank - 1999
Financial turmoil is becoming a fact of life in Latin America. The 1990s have been characterized by enormous volatility in the magnitude and cost of capital flows. The correlation of capital swings across disparate countries suggests that the quality of emerging market policies in addition to...
Persistent link: https://www.econbiz.de/10010943993
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Have Differences in Credit Access Diminished in an Era of Financial Market Deregulation?
Weller, Christian E. - Political Economy Research Institute (PERI), University … - 2007
Over the past few decades, financial markets have become increasingly deregulated and household debt has expanded …
Persistent link: https://www.econbiz.de/10005070045
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Republic of Latvia; Third Review Under the Stand-By Arrangement and Financing Assurances Review, Request for Rephasing of Purchases Under the Arrangement, and Request for Waiver of...
International Monetary Fund (IMF); International … - 2010
The labor market remains weak, disinflation has slowed, but falling wages are improving competitiveness. The weak economic environment is putting pressure on the banking sector. Financial conditions have deteriorated recently because of international financial market tensions. The Bank of Latvia...
Persistent link: https://www.econbiz.de/10011245352
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The Chicago Plan Revisited
Kumhof, Michael; Benes, Jaromir - International Monetary Fund (IMF) - 2012
At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving...
Persistent link: https://www.econbiz.de/10010790425
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Approaches to Corporate Debt Restructuring in the Wake of Financial Crises
Laryea, Thomas - International Monetary Fund (IMF) - 2010
This paper starts from a discussion of the economic case for moderated government intervention in debt restructuring in the nonfinancial corporate sector. It then draws on lessons from past crises to explain three broad approaches that have been applied to corporate debt restructurings in the...
Persistent link: https://www.econbiz.de/10010790467
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Republic of Latvia; First Review and Financing Assurances Review Under the Stand By Arrangement, Requests for Waivers of Nonobservance of Performance Criteria, and Rephasing of Pur...
International Monetary Fund (IMF); International … - 2009
The Latvian authorities have strengthened their intervention capacity, financial supervision, and monitoring framework, and have taken steps to contain risks in Parex Bank. The staff report reviews the Republic of Latvia’s economic developments and policies. Substantial progress has been...
Persistent link: https://www.econbiz.de/10011242934