The Crisis Hits Home : Stress-Testing Households in Europe and Central Asia
The Europe and Central Asia (ECA) region has been hit by a crisis on multiple fronts. Countries in ECA are facing major, interrelated, external macro-financial shocks. The first is the global growth slowdown leading to falling export market demand....
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| Format: | Publication |
| Language: | English |
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World Bank
2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333038_20100104224214 http://hdl.handle.net/10986/2396 |
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okr-10986-2396 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCESS TO CREDIT ACCOUNTING ADVANCED ECONOMIES AGRICULTURAL ACTIVITY AGRICULTURE ORGANIZATION ASSET CLASSES ASSET POSITIONS ASSET PRICE ASSET QUALITY AVAILABILITY OF CREDIT BALANCE SHEET BALANCE SHEETS BANK CREDIT BANKING MARKETS BANKING SECTOR BANKING SECTORS BANKING SYSTEM BANKING SYSTEMS BANKS BASIS POINTS BOND BOND INDEX BOND VALUATIONS BORROWING CAPITAL ACCUMULATION CAPITAL ADEQUACY CAPITAL FLOWS CAPITAL INFLOWS CAPITAL OUTFLOWS CASH TRANSFERS CENTRAL BANK COLLATERAL COMMODITY PRICE COMMODITY PRICES CONSUMER DURABLES CONSUMER PRICE INDEX COST OF CREDIT CREDIT CONSTRAINTS CREDIT CRUNCH CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT GROWTH CREDIT MARKET CREDIT MARKETS CREDIT RISK CREDIT RISKS CREDIT SPREADS CREDITOR CREDITOR BANK CREDITOR BANKS CRISIS COUNTRIES CURRENCY DEPRECIATIONS CURRENT ACCOUNT CURRENT ACCOUNT DEFICITS DEBT BURDENS DEBT HOLDING DEBT OBLIGATIONS DEBT REPAYMENTS DEBT SERVICE DELINQUENCY RATES DEPOSIT DEPOSITS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT BANK DEVELOPMENT FINANCE DIVERSIFICATION DOMESTIC LIQUIDITY DURABLES EARNINGS ECONOMIC ACTIVITIES ECONOMIC ACTIVITY ECONOMIC CRISIS ECONOMIC DEVELOPMENTS ECONOMIC EFFICIENCY ECONOMIC GROWTH ECONOMIC POLICY EMERGING ECONOMIES EMERGING MARKET EMERGING MARKETS EMPLOYMENT OPPORTUNITIES EQUIPMENT EQUITIES EQUITY HOLDINGS EQUITY INDEX EQUITY MARKET EQUITY MARKETS EXCHANGE RATE EXCHANGE RATES EXPORT EARNINGS EXTERNAL FINANCE EXTERNAL FINANCING EXTERNAL SHOCKS FAMILIES FAMILY INCOME FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL LITERACY FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL RISK FINANCIAL SECTOR DEVELOPMENT FINANCIAL SHOCKS FINANCIAL VIABILITY FINANCING REQUIREMENTS FISCAL DEFICITS FISCAL POLICY FOREIGN BANK FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY EXPOSURES FOREIGN DIRECT INVESTMENT FOREIGN INVESTORS FUNDING SOURCES GENDER GLOBAL DEVELOPMENT FINANCE GLOBAL TRADE GOVERNMENT DEFICITS GOVERNMENT POLICIES GOVERNMENT POLICY GROSS DOMESTIC PRODUCT HOME OWNERSHIP HOMEOWNERS HOST COUNTRIES HOUSEHOLD DEBT HOUSEHOLD INCOME HOUSEHOLD INCOMES HOUSEHOLD WEALTH HOUSEHOLD WELFARE HOUSEHOLDS HOUSING LOANS HUMAN CAPITAL INCOME FLOWS INCOME SHOCKS INDEBTED HOUSEHOLDS INDEBTEDNESS INEQUALITY INFORMAL CREDIT INTEREST RATE INTEREST RATE RISKS INTEREST RATES INTERNATIONAL BANK INTERNATIONAL BANKING INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL FINANCIAL STATISTICS INTERNATIONAL SETTLEMENTS JOB CREATION LABOR FORCE SURVEYS LABOR MARKET LACK OF ACCESS LIABILITY LIABILITY SIDE LIMITED ACCESS LIQUIDITY LIQUIDITY PROBLEMS LIQUIDITY RISK LIQUIDITY RISKS LIVING STANDARDS LOAN LOAN DELINQUENCY LOCAL CURRENCY MACROECONOMIC CRISES MACROECONOMIC STABILITY MARK-TO-MARKET MARKET ENVIRONMENT MATURITY MATURITY MISMATCHES MIGRANT LABOR MIGRANT WORKERS MONETARY FUND MONETARY POLICY MONEY TRANSFER MORTGAGE MORTGAGE DEBT MORTGAGE LOANS MORTGAGES MUTUAL FUND MUTUAL FUNDS NET WORTH NPL OIL PRICE OIL PRICES PENSION PENSION FUND PENSION FUNDS PENSION PROVISION PENSION SYSTEM PENSION SYSTEMS POLICY RESPONSE POLICY RESPONSES PORTFOLIO PORTFOLIO RISK PRICE CHANGES PRICE MOVEMENTS PRIVATE CAPITAL PRIVATE CREDIT PRIVATE INVESTMENTS PUBLIC INVESTMENTS PURCHASING POWER PURCHASING POWER PARITY RECESSION REMITTANCE REMITTANCES RETURNS RISK AVERSION RISK MITIGATION SAFETY NET SAFETY NETS SAVINGS SECONDARY MARKET SHARE OF EQUITIES SOCIAL CAPITAL SOLVENCY SOURCE OF INCOME SOURCES OF FUNDS SOVEREIGN BOND STANDARD ASSET TRADE BALANCE TRADE CREDITS TRADING UNEMPLOYMENT UNEMPLOYMENT INSURANCE UNION VALUATION VULNERABLE HOUSEHOLDS WEALTH EFFECTS |
| spellingShingle |
ACCESS TO CREDIT ACCOUNTING ADVANCED ECONOMIES AGRICULTURAL ACTIVITY AGRICULTURE ORGANIZATION ASSET CLASSES ASSET POSITIONS ASSET PRICE ASSET QUALITY AVAILABILITY OF CREDIT BALANCE SHEET BALANCE SHEETS BANK CREDIT BANKING MARKETS BANKING SECTOR BANKING SECTORS BANKING SYSTEM BANKING SYSTEMS BANKS BASIS POINTS BOND BOND INDEX BOND VALUATIONS BORROWING CAPITAL ACCUMULATION CAPITAL ADEQUACY CAPITAL FLOWS CAPITAL INFLOWS CAPITAL OUTFLOWS CASH TRANSFERS CENTRAL BANK COLLATERAL COMMODITY PRICE COMMODITY PRICES CONSUMER DURABLES CONSUMER PRICE INDEX COST OF CREDIT CREDIT CONSTRAINTS CREDIT CRUNCH CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT GROWTH CREDIT MARKET CREDIT MARKETS CREDIT RISK CREDIT RISKS CREDIT SPREADS CREDITOR CREDITOR BANK CREDITOR BANKS CRISIS COUNTRIES CURRENCY DEPRECIATIONS CURRENT ACCOUNT CURRENT ACCOUNT DEFICITS DEBT BURDENS DEBT HOLDING DEBT OBLIGATIONS DEBT REPAYMENTS DEBT SERVICE DELINQUENCY RATES DEPOSIT DEPOSITS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT BANK DEVELOPMENT FINANCE DIVERSIFICATION DOMESTIC LIQUIDITY DURABLES EARNINGS ECONOMIC ACTIVITIES ECONOMIC ACTIVITY ECONOMIC CRISIS ECONOMIC DEVELOPMENTS ECONOMIC EFFICIENCY ECONOMIC GROWTH ECONOMIC POLICY EMERGING ECONOMIES EMERGING MARKET EMERGING MARKETS EMPLOYMENT OPPORTUNITIES EQUIPMENT EQUITIES EQUITY HOLDINGS EQUITY INDEX EQUITY MARKET EQUITY MARKETS EXCHANGE RATE EXCHANGE RATES EXPORT EARNINGS EXTERNAL FINANCE EXTERNAL FINANCING EXTERNAL SHOCKS FAMILIES FAMILY INCOME FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL LITERACY FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL RISK FINANCIAL SECTOR DEVELOPMENT FINANCIAL SHOCKS FINANCIAL VIABILITY FINANCING REQUIREMENTS FISCAL DEFICITS FISCAL POLICY FOREIGN BANK FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY EXPOSURES FOREIGN DIRECT INVESTMENT FOREIGN INVESTORS FUNDING SOURCES GENDER GLOBAL DEVELOPMENT FINANCE GLOBAL TRADE GOVERNMENT DEFICITS GOVERNMENT POLICIES GOVERNMENT POLICY GROSS DOMESTIC PRODUCT HOME OWNERSHIP HOMEOWNERS HOST COUNTRIES HOUSEHOLD DEBT HOUSEHOLD INCOME HOUSEHOLD INCOMES HOUSEHOLD WEALTH HOUSEHOLD WELFARE HOUSEHOLDS HOUSING LOANS HUMAN CAPITAL INCOME FLOWS INCOME SHOCKS INDEBTED HOUSEHOLDS INDEBTEDNESS INEQUALITY INFORMAL CREDIT INTEREST RATE INTEREST RATE RISKS INTEREST RATES INTERNATIONAL BANK INTERNATIONAL BANKING INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL FINANCIAL STATISTICS INTERNATIONAL SETTLEMENTS JOB CREATION LABOR FORCE SURVEYS LABOR MARKET LACK OF ACCESS LIABILITY LIABILITY SIDE LIMITED ACCESS LIQUIDITY LIQUIDITY PROBLEMS LIQUIDITY RISK LIQUIDITY RISKS LIVING STANDARDS LOAN LOAN DELINQUENCY LOCAL CURRENCY MACROECONOMIC CRISES MACROECONOMIC STABILITY MARK-TO-MARKET MARKET ENVIRONMENT MATURITY MATURITY MISMATCHES MIGRANT LABOR MIGRANT WORKERS MONETARY FUND MONETARY POLICY MONEY TRANSFER MORTGAGE MORTGAGE DEBT MORTGAGE LOANS MORTGAGES MUTUAL FUND MUTUAL FUNDS NET WORTH NPL OIL PRICE OIL PRICES PENSION PENSION FUND PENSION FUNDS PENSION PROVISION PENSION SYSTEM PENSION SYSTEMS POLICY RESPONSE POLICY RESPONSES PORTFOLIO PORTFOLIO RISK PRICE CHANGES PRICE MOVEMENTS PRIVATE CAPITAL PRIVATE CREDIT PRIVATE INVESTMENTS PUBLIC INVESTMENTS PURCHASING POWER PURCHASING POWER PARITY RECESSION REMITTANCE REMITTANCES RETURNS RISK AVERSION RISK MITIGATION SAFETY NET SAFETY NETS SAVINGS SECONDARY MARKET SHARE OF EQUITIES SOCIAL CAPITAL SOLVENCY SOURCE OF INCOME SOURCES OF FUNDS SOVEREIGN BOND STANDARD ASSET TRADE BALANCE TRADE CREDITS TRADING UNEMPLOYMENT UNEMPLOYMENT INSURANCE UNION VALUATION VULNERABLE HOUSEHOLDS WEALTH EFFECTS Tiongson, Erwin R. Sugawara, Naotaka Sulla, Victor Taylor, Ashley Gueorguieva, Anna I. Levin, Victoria Subbarao, Kalanidhi The Crisis Hits Home : Stress-Testing Households in Europe and Central Asia |
| geographic_facet |
Europe and Central Asia Eastern Europe Central Asia |
| description |
The Europe and Central Asia (ECA) region
has been hit by a crisis on multiple fronts. Countries in
ECA are facing major, interrelated, external macro-financial
shocks. The first is the global growth slowdown leading to
falling export market demand. In addition, the prospects for
inflows of remittances to low-income countries have been
downgraded as economic activity in migrant host countries
has declined. The second is the financial deleveraging by
major banks and other financial institutions in developed
economies, which has markedly reduced the availability, and
increased the cost, of external finance across public,
corporate, and financial sectors. The third is the recent
commodity price changes, which have involved a reversal of
much of the commodity price boom of 2007 and 2008. The main
objective of the study is to understand the impact of these
macroeconomic shocks on household well-being. In particular,
it seeks to understand the key macroeconomic shocks
confronted by the region and the impact of such shocks on
household welfare, including the effect on household income
flows, consumption levels, and liabilities. It will also
assess possible strategies to cope with the crisis and
manage the adverse social impact. |
| format |
Publications & Research :: Publication |
| author |
Tiongson, Erwin R. Sugawara, Naotaka Sulla, Victor Taylor, Ashley Gueorguieva, Anna I. Levin, Victoria Subbarao, Kalanidhi |
| author_facet |
Tiongson, Erwin R. Sugawara, Naotaka Sulla, Victor Taylor, Ashley Gueorguieva, Anna I. Levin, Victoria Subbarao, Kalanidhi |
| author_sort |
Tiongson, Erwin R. |
| 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 |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333038_20100104224214 http://hdl.handle.net/10986/2396 |
| _version_ |
1764385380970266624 |
| spelling |
okr-10986-23962021-04-23T14:02:01Z The Crisis Hits Home : Stress-Testing Households in Europe and Central Asia Tiongson, Erwin R. Sugawara, Naotaka Sulla, Victor Taylor, Ashley Gueorguieva, Anna I. Levin, Victoria Subbarao, Kalanidhi ACCESS TO CREDIT ACCOUNTING ADVANCED ECONOMIES AGRICULTURAL ACTIVITY AGRICULTURE ORGANIZATION ASSET CLASSES ASSET POSITIONS ASSET PRICE ASSET QUALITY AVAILABILITY OF CREDIT BALANCE SHEET BALANCE SHEETS BANK CREDIT BANKING MARKETS BANKING SECTOR BANKING SECTORS BANKING SYSTEM BANKING SYSTEMS BANKS BASIS POINTS BOND BOND INDEX BOND VALUATIONS BORROWING CAPITAL ACCUMULATION CAPITAL ADEQUACY CAPITAL FLOWS CAPITAL INFLOWS CAPITAL OUTFLOWS CASH TRANSFERS CENTRAL BANK COLLATERAL COMMODITY PRICE COMMODITY PRICES CONSUMER DURABLES CONSUMER PRICE INDEX COST OF CREDIT CREDIT CONSTRAINTS CREDIT CRUNCH CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT GROWTH CREDIT MARKET CREDIT MARKETS CREDIT RISK CREDIT RISKS CREDIT SPREADS CREDITOR CREDITOR BANK CREDITOR BANKS CRISIS COUNTRIES CURRENCY DEPRECIATIONS CURRENT ACCOUNT CURRENT ACCOUNT DEFICITS DEBT BURDENS DEBT HOLDING DEBT OBLIGATIONS DEBT REPAYMENTS DEBT SERVICE DELINQUENCY RATES DEPOSIT DEPOSITS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT BANK DEVELOPMENT FINANCE DIVERSIFICATION DOMESTIC LIQUIDITY DURABLES EARNINGS ECONOMIC ACTIVITIES ECONOMIC ACTIVITY ECONOMIC CRISIS ECONOMIC DEVELOPMENTS ECONOMIC EFFICIENCY ECONOMIC GROWTH ECONOMIC POLICY EMERGING ECONOMIES EMERGING MARKET EMERGING MARKETS EMPLOYMENT OPPORTUNITIES EQUIPMENT EQUITIES EQUITY HOLDINGS EQUITY INDEX EQUITY MARKET EQUITY MARKETS EXCHANGE RATE EXCHANGE RATES EXPORT EARNINGS EXTERNAL FINANCE EXTERNAL FINANCING EXTERNAL SHOCKS FAMILIES FAMILY INCOME FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL LITERACY FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL RISK FINANCIAL SECTOR DEVELOPMENT FINANCIAL SHOCKS FINANCIAL VIABILITY FINANCING REQUIREMENTS FISCAL DEFICITS FISCAL POLICY FOREIGN BANK FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY EXPOSURES FOREIGN DIRECT INVESTMENT FOREIGN INVESTORS FUNDING SOURCES GENDER GLOBAL DEVELOPMENT FINANCE GLOBAL TRADE GOVERNMENT DEFICITS GOVERNMENT POLICIES GOVERNMENT POLICY GROSS DOMESTIC PRODUCT HOME OWNERSHIP HOMEOWNERS HOST COUNTRIES HOUSEHOLD DEBT HOUSEHOLD INCOME HOUSEHOLD INCOMES HOUSEHOLD WEALTH HOUSEHOLD WELFARE HOUSEHOLDS HOUSING LOANS HUMAN CAPITAL INCOME FLOWS INCOME SHOCKS INDEBTED HOUSEHOLDS INDEBTEDNESS INEQUALITY INFORMAL CREDIT INTEREST RATE INTEREST RATE RISKS INTEREST RATES INTERNATIONAL BANK INTERNATIONAL BANKING INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL FINANCIAL STATISTICS INTERNATIONAL SETTLEMENTS JOB CREATION LABOR FORCE SURVEYS LABOR MARKET LACK OF ACCESS LIABILITY LIABILITY SIDE LIMITED ACCESS LIQUIDITY LIQUIDITY PROBLEMS LIQUIDITY RISK LIQUIDITY RISKS LIVING STANDARDS LOAN LOAN DELINQUENCY LOCAL CURRENCY MACROECONOMIC CRISES MACROECONOMIC STABILITY MARK-TO-MARKET MARKET ENVIRONMENT MATURITY MATURITY MISMATCHES MIGRANT LABOR MIGRANT WORKERS MONETARY FUND MONETARY POLICY MONEY TRANSFER MORTGAGE MORTGAGE DEBT MORTGAGE LOANS MORTGAGES MUTUAL FUND MUTUAL FUNDS NET WORTH NPL OIL PRICE OIL PRICES PENSION PENSION FUND PENSION FUNDS PENSION PROVISION PENSION SYSTEM PENSION SYSTEMS POLICY RESPONSE POLICY RESPONSES PORTFOLIO PORTFOLIO RISK PRICE CHANGES PRICE MOVEMENTS PRIVATE CAPITAL PRIVATE CREDIT PRIVATE INVESTMENTS PUBLIC INVESTMENTS PURCHASING POWER PURCHASING POWER PARITY RECESSION REMITTANCE REMITTANCES RETURNS RISK AVERSION RISK MITIGATION SAFETY NET SAFETY NETS SAVINGS SECONDARY MARKET SHARE OF EQUITIES SOCIAL CAPITAL SOLVENCY SOURCE OF INCOME SOURCES OF FUNDS SOVEREIGN BOND STANDARD ASSET TRADE BALANCE TRADE CREDITS TRADING UNEMPLOYMENT UNEMPLOYMENT INSURANCE UNION VALUATION VULNERABLE HOUSEHOLDS WEALTH EFFECTS The Europe and Central Asia (ECA) region has been hit by a crisis on multiple fronts. Countries in ECA are facing major, interrelated, external macro-financial shocks. The first is the global growth slowdown leading to falling export market demand. In addition, the prospects for inflows of remittances to low-income countries have been downgraded as economic activity in migrant host countries has declined. The second is the financial deleveraging by major banks and other financial institutions in developed economies, which has markedly reduced the availability, and increased the cost, of external finance across public, corporate, and financial sectors. The third is the recent commodity price changes, which have involved a reversal of much of the commodity price boom of 2007 and 2008. The main objective of the study is to understand the impact of these macroeconomic shocks on household well-being. In particular, it seeks to understand the key macroeconomic shocks confronted by the region and the impact of such shocks on household welfare, including the effect on household income flows, consumption levels, and liabilities. It will also assess possible strategies to cope with the crisis and manage the adverse social impact. 2012-03-19T09:32:30Z 2012-03-19T09:32:30Z 2010 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333038_20100104224214 978-0-8213-8222-6 http://hdl.handle.net/10986/2396 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank Publications & Research :: Publication Publications & Research :: Publication Europe and Central Asia Eastern Europe Central Asia |