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...

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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

id	okr-10986-10185
recordtype	oai_dc
spelling	okr-10986-101852021-04-23T14:02:49Z The Crisis Hits Home : Stress-Testing Households in Europe and Central Asia Sugawara, Naotaka Sulla, Victor Taylor, Ashley Tiongson, Erwin R. 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 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. 2012-08-13T10:40:12Z 2012-08-13T10:40:12Z 2010-05 http://documents.worldbank.org/curated/en/2010/05/12271865/crisis-hits-home-stress-testing-households-europe-central-asia http://hdl.handle.net/10986/10185 English Economic Premise; No. 12 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Brief Publications & Research Europe and Central Asia
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	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
spellingShingle	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 Sugawara, Naotaka Sulla, Victor Taylor, Ashley Tiongson, Erwin R. The Crisis Hits Home : Stress-Testing Households in Europe and Central Asia
geographic_facet	Europe and Central Asia
relation	Economic Premise; No. 12
description	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.
format	Publications & Research :: Brief
author	Sugawara, Naotaka Sulla, Victor Taylor, Ashley Tiongson, Erwin R.
author_facet	Sugawara, Naotaka Sulla, Victor Taylor, Ashley Tiongson, Erwin R.
author_sort	Sugawara, Naotaka
title	The Crisis Hits Home : Stress-Testing Households in Europe and Central Asia
title_short	The Crisis Hits Home : Stress-Testing Households in Europe and Central Asia
title_full	The Crisis Hits Home : Stress-Testing Households in Europe and Central Asia
title_fullStr	The Crisis Hits Home : Stress-Testing Households in Europe and Central Asia
title_full_unstemmed	The Crisis Hits Home : Stress-Testing Households in Europe and Central Asia
title_sort	crisis hits home : stress-testing households in europe and central asia
publisher	World Bank, Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2010/05/12271865/crisis-hits-home-stress-testing-households-europe-central-asia http://hdl.handle.net/10986/10185
_version_	1764412164994498560

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

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