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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‐...
Persistent link: https://www.econbiz.de/10012961042
household production in the face of a crisis and the failed response of other institutions. Doing so on a regular basis when … drawn from both economic crises and natural disasters. It also explores the “coping costs” of household disaster … to do their jobs more effectively to avoid the excessive costs associated with unnecessary household human capital …
Persistent link: https://www.econbiz.de/10012910180
This study intends to investigate the extent and dynamics of financial advisory services, and their relationship to changes in the different financial assets held by households' in the United States, before and after the Great Recession, using the 2007-2009 panel of Survey of Consumer Finances...
Persistent link: https://www.econbiz.de/10012911374
How much did shocks to household credit supply reduce employment in the Great Recession? To answer this question, I … by 3 percent. In partial equilibrium, the household credit channel implies employment losses equal to at least 20 percent …
Persistent link: https://www.econbiz.de/10012937678
that although the median of the household disposable income of the bankrupt households is lower than that of the households … household size instances. This finding is in line with the results of earlier studies indicating that bankruptcy is not a poor … household's issue. The results are confirmed using logistic regression relating the probability of bankruptcy to a set of …
Persistent link: https://www.econbiz.de/10012940827
We investigate how the deterioration of household balance sheets affects worker productivity, and whether such effects …
Persistent link: https://www.econbiz.de/10012943613
-thirds of respondents in Europe and Central Asia report their household was subjectively affected, primarily through the labor … household budget surveys that the crisis reduced the consumption of the middle and upper classes. But the analysis also finds …
Persistent link: https://www.econbiz.de/10012975393
Household time preference for US households, as measured by the planning horizon, was fairly stable for many years, but … patient after the onset of the recession. This pattern held up even after controlling for household characteristics …
Persistent link: https://www.econbiz.de/10013010249
household debt, (1) installment loan debt and (2) credit card debt. Results of a Heckman selection model indicate that …
Persistent link: https://www.econbiz.de/10013010347
We extend household-level data from the Household Finance and Consumption Survey using aggregate series and micro … incomes. Household deleveraging was primarily driven by the restrained mortgage borrowing by the young. In several countries …
Persistent link: https://www.econbiz.de/10013051171