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Marginal Propensities to Consume Before and After the Great Recession
Cho, Yunho; Morley, James; Singh, Aarti - 2021
We extend a semi-structural model of household income and consumption to allow for dynamic consumption elasticities with respect to transitory income shocks. Likelihood-based inference for our model accurately estimates consumption insurance against income shocks in simulated data from a...
Persistent link: https://www.econbiz.de/10013241587
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The Impact of Climate on Economic and Financial Cycles : A Markov-switching Panel Approach
Billio, Monica; Casarin, Roberto; De Cian, Enrica; … - 2021
This paper examines the impact of climate shocks on 13 European economies analysing jointly business and financial cycles, in different phases and disentangling the effects for different sector channels. A Bayesian Panel Markov-switching framework is proposed to jointly estimate the impact of...
Persistent link: https://www.econbiz.de/10013241980
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Household debt and saving during the 2007 recession
Chakrabarti, Rajashri; Lee, Donghoon; Klaauw, Wilbert … - 2011
Using credit report records and data collected from several household surveys, we analyze changes in household debt and … appears to reflect a considerable decline in household debt, as households paid down mortgage debt in particular. At the end … of 2009, individuals expected to continue increasing their saving and paying down of debt, which is consistent with what …
Persistent link: https://www.econbiz.de/10008935752
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Unsustainable household debt : problems of measurement
Gibbons, Damon - In: Vierteljahrshefte zur Wirtschaftsforschung 89 (2020) 1, pp. 101-113
between household debt levels, financial stability risks, and the ongoing implications of the ‘debt overhang’ for economic … growth. However, accurately measuring the household debt burden remains problematic. Aggregate measures of household … indebtedness (e.?g. household liabilities relative to income) fail to fully capture the debt servicing burdens of households …
Persistent link: https://www.econbiz.de/10012507225
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Financial literacy and financial resilience : evidence from Italy
Bottazzi, Laura; Oggero, Noemi - In: Journal of financial literacy and wellbeing : FLW 1 (2023) 2, pp. 199-224
unable to face financial shocks and leads to an overaccumulation of debt. Hence, our results support the hypothesis that …
Persistent link: https://www.econbiz.de/10014516084
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Inequality and growth : the perverse relation between the productive and the non-productive assets of the economy
Amendola, Mario; Gaffard, Jean-Luc - In: Journal of evolutionary economics : JEE 27 (2017) 3, pp. 531-554
Persistent link: https://www.econbiz.de/10011893825
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Forecasting methods for safeguarding ASEAN-5 stock exchanges during extreme volatility
Chukiat Chaiboonsri; Prasert Chaitip - In: International journal of trade and global markets 10 (2017) 1, pp. 123-130
Persistent link: https://www.econbiz.de/10011722940
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Foreign Currency Loans and Loan Arrears of Households in Central and Eastern Europe
Beckmann, Elisabeth; Fidrmuc, Jarko; Stix, Helmut - 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/10013370098
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The Failure of Northern Rock: A multi-dimensional Case Study
Congdon, Tim; Goodhart, Charles A.E.; Eisenbeis, Robert A. - 2009
particularly large bank (it was at the time ranked 7th in terms of assets) it was nevertheless a significant retail bank and a …
Persistent link: https://www.econbiz.de/10011689937
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Do financial counseling mandates improve mortgage choice and performance? : evidence from a legislative experiment
Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - 2009
We explore the effects of mandatory third-party review of mortgage contracts on the terms, availability, and performance of mortgage credit. Our study is based on a legislative experiment in which the State of Illinois required “high-risk” mortgage applicants acquiring or refinancing...
Persistent link: https://www.econbiz.de/10003892591