Dzung Bui; Dräger, Lena; Hayo, Bernd; Giang Hong Nghiem - 2024
Using representative household surveys conducted in Thailand and Vietnam during the COVID-19 pandemic, we find that the … the savings position plays a crucial role, as the effects are especially pronounced for households that experienced a … decline in savings. This result contradicts a prediction from the life-cycle permanent income model with borrowing constraints …