The Crisis Hits Home : Stress-Testing Households in Europe and Central Asia

The financial crisis and economic downturn threatens the welfare of more than 160 million people who are poor or are just above the poverty line in the economies of Eastern and Central Europe, the former Soviet Union, and Turkey. This note concerns...

Full description

Bibliographic Details
Main Authors:	Sugawara, Naotaka, Sulla, Victor, Taylor, Ashley, Tiongson, Erwin R.
Format:	Brief
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCESS TO EDUCATION ADVERSE EFFECTS ANALYTICAL APPROACH ASSETS BANK LOANS CENTRAL BANK CENTRAL BANKS COMMODITY COMMODITY PRICES CONSOLIDATION CREDIT MARKET CREDIT MARKETS CURRENCY VALUE DATA AVAILABILITY DEBT DEBT BURDEN DEBT SERVICE DEBT SERVICE PAYMENTS DEPRECIATIONS DEVELOPING ECONOMIES DURABLE DURABLE GOODS ECONOMIC CRISIS ECONOMIC DOWNTURN ECONOMIC EFFICIENCY ECONOMIC POLICY ECONOMIC SHOCKS EMPLOYMENT EQUITY HOLDINGS EUROPEAN CENTRAL BANK EXCHANGE RATE EXPENDITURES EXPORT REVENUES EXTERNAL FINANCE FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL STABILITY FINANCING SOURCES FISCAL CONSOLIDATION FISCAL POLICY FOOD SHARE FOREIGN CURRENCY GLOBAL SLOWDOWN GOVERNMENT DEFICITS GOVERNMENT POLICY HOUSEHOLD BUDGET HOUSEHOLD WELFARE HOUSING HUMAN DEVELOPMENT IMPACT OF SHOCKS INCOME INCOME SHOCKS INCOMES INDEBTED HOUSEHOLDS INDEBTEDNESS INTEREST PAYMENT INVESTMENT EXPENDITURES LABOR MARKET LIVING STANDARDS LOAN LOCAL CURRENCY LOW-INCOME COUNTRIES MACROECONOMIC SHOCKS MIDDLE-INCOME COUNTRIES MIGRATION MONETARY FUND MORTGAGE MORTGAGE DEBT NATIONAL BANK NATIONAL BANK OF HUNGARY PAYMENT OBLIGATIONS PENSIONS POLICY RESPONSE POLICY RESPONSES POOR PEOPLE POVERTY ASSESSMENT POVERTY IMPACT POVERTY LINE POVERTY REDUCTION PRICE INCREASES PUBLIC SPENDING REDUCTION IN POVERTY REGIONAL ECONOMIC ACTIVITY REGIONAL POVERTY REGIONAL RECESSION RELATIVE PRICES REMITTANCE SAFETY NETS SAVINGS SLOWDOWN SOCIAL PROTECTION SOCIAL SAFETY NETS SOCIAL SERVICES SUBREGIONS SVERIGES RIKSBANK UNEMPLOYMENT RATES VARIABLE INTEREST RATES VULNERABLE HOUSEHOLDS VULNERABLE PEOPLE WAGES WEALTH EFFECTS
Online Access:	http://documents.worldbank.org/curated/en/2010/05/12271865/crisis-hits-home-stress-testing-households-europe-central-asia http://hdl.handle.net/10986/10185

Description
Summary:	The financial crisis and economic downturn threatens the welfare of more than 160 million people who are poor or are just above the poverty line in the economies of Eastern and Central Europe, the former Soviet Union, and Turkey. This note concerns the findings of recent World Bank analysis (Tiongson et al. 2010) that uses precrisis household data and aggregate macroeconomic outcomes in these countries to simulate the impact of the crisis on households, transmitted via credit market shocks, price shocks, and income shocks. The adverse effects are widespread, with both poor and non-poor households being vulnerable. By 2010, for the region as a whole, it is estimated that some 11 million more people will be in poverty and more than 23 million additional people will find themselves just above the poverty line because of the crisis.

The Crisis Hits Home : Stress-Testing Households in Europe and Central Asia

Similar Items