Household resilience to adverse macroeconomic shocks: evidence from Czech microdata

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F16%3A10359267" target="_blank" >RIV/00216208:11230/16:10359267 - isvavai.cz</a>

Výsledek na webu

<a href="http://dx.doi.org/10.1080/02692171.2015.1105937" target="_blank" >http://dx.doi.org/10.1080/02692171.2015.1105937</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1080/02692171.2015.1105937" target="_blank" >10.1080/02692171.2015.1105937</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Household resilience to adverse macroeconomic shocks: evidence from Czech microdata

Popis výsledku v původním jazyce

We develop a methodology for identifying financially distressed households and use it for testing the responses to shocks to the unemployment rate, the interest rate and prices of essential expenditure in the Czech Republic. We extend the approach of Johansson and Persson (2006) for Sweden and Albacete and Fessler (2010) for Austria in the literature to allow for full labour market transitions between employment and unemployment, and, due to data availability, to account for heads and spouses within households. This improvement may lead to a higher response of household distress incidence, due to the unemployment rate shock, than in both Sweden and Austria, while the effects due to the interest rate shock are of similar size as in Austria. We illustrate the use of our approach for stress testing households&apos; ability to pay their debts using macroeconomic scenarios from the CNB&apos;s official forecast and from the CNB&apos;s Financial Stability Report. The results highlight the importance of using micro-level datasets in the analysis of household distress incidence, as the impact of shocks is more pronounced among lower-income households.

Název v anglickém jazyce

Household resilience to adverse macroeconomic shocks: evidence from Czech microdata

Popis výsledku anglicky

We develop a methodology for identifying financially distressed households and use it for testing the responses to shocks to the unemployment rate, the interest rate and prices of essential expenditure in the Czech Republic. We extend the approach of Johansson and Persson (2006) for Sweden and Albacete and Fessler (2010) for Austria in the literature to allow for full labour market transitions between employment and unemployment, and, due to data availability, to account for heads and spouses within households. This improvement may lead to a higher response of household distress incidence, due to the unemployment rate shock, than in both Sweden and Austria, while the effects due to the interest rate shock are of similar size as in Austria. We illustrate the use of our approach for stress testing households&apos; ability to pay their debts using macroeconomic scenarios from the CNB&apos;s official forecast and from the CNB&apos;s Financial Stability Report. The results highlight the importance of using micro-level datasets in the analysis of household distress incidence, as the impact of shocks is more pronounced among lower-income households.

Druh

J_SC - Článek v periodiku v databázi SCOPUS

CEP obor

—

OECD FORD obor

50201 - Economic Theory

Projekt

<a href="/cs/project/GA14-02108S" target="_blank" >GA14-02108S: Vzájemná interakce krizí státu a bank</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Rok uplatnění

2016

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

International Review of Applied Economics

ISSN

0269-2171

e-ISSN

—

Svazek periodika

30

Číslo periodika v rámci svazku

3

Stát vydavatele periodika

GB - Spojené království Velké Británie a Severního Irska

Počet stran výsledku

26

Strana od-do

377-402

Kód UT WoS článku

000371804400005

EID výsledku v databázi Scopus

2-s2.0-84960306639