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This paper proposes and applies an analytical framework to assess vulnerabilities of emerging and developing economies to the global financial and economic crisis. The analytical framework identifies six different channels of vulnerability to the global financial and economic crisis and...
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We estimate marginal propensities to consume from wealth shocks for Italian households. Large asset price shocks in 2008 underpin an IV estimator. A euro fall in financial or risky financial wealth resulted in cuts in annual total (non-durable) consumption of 5-9 (3.5-6) cents. There is evidence...
Persistent link: https://www.econbiz.de/10009779253
We estimate marginal propensities to consume from wealth shocks for Italian households in the early part of the Great Recession. Large asset price shocks in 2008 underpin an IV estimator. A euro fall in risky financial wealth resulted in cuts in annual total (non -durable) consumption of 8.5 ] 9...
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The ongoing financial and economic crisis has hit hard the lives of citizens in Eastern Europe and Central Asian (ECA) countries. Economic growth has started to dip, unemployment is rising and government revenues are expected to fall. The crisis is having a direct impact on the ability of...
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This paper studies the economic impact of the current global economic downturn on the household sector. Household … for the small open emerging economy. As a result of a lack of individual data on household finances, micro data are … household default rates and unemployment. We find that potential household insolvencies have important implications for the …
Persistent link: https://www.econbiz.de/10009229365
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