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

dc.creator	Tiongson, Erwin R.
dc.creator	Sugawara, Naotaka
dc.creator	Sulla, Victor
dc.creator	Taylor, Ashley
dc.creator	Gueorguieva, Anna I.
dc.creator	Levin, Victoria
dc.creator	Subbarao, Kalanidhi
dc.date	2012-03-19T09:32:30Z
dc.date	2012-03-19T09:32:30Z
dc.date	2010
dc.date.accessioned	2023-02-17T20:35:47Z
dc.date.available	2023-02-17T20:35:47Z
dc.identifier	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
dc.identifier	978-0-8213-8222-6
dc.identifier	http://hdl.handle.net/10986/2396
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/242769
dc.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.
dc.language	English
dc.publisher	World Bank
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo
dc.rights	World Bank
dc.subject	ACCESS TO CREDIT
dc.subject	ACCOUNTING
dc.subject	ADVANCED ECONOMIES
dc.subject	AGRICULTURAL ACTIVITY
dc.subject	AGRICULTURE ORGANIZATION
dc.subject	ASSET CLASSES
dc.subject	ASSET POSITIONS
dc.subject	ASSET PRICE
dc.subject	ASSET QUALITY
dc.subject	AVAILABILITY OF CREDIT
dc.subject	BALANCE SHEET
dc.subject	BALANCE SHEETS
dc.subject	BANK CREDIT
dc.subject	BANKING MARKETS
dc.subject	BANKING SECTOR
dc.subject	BANKING SECTORS
dc.subject	BANKING SYSTEM
dc.subject	BANKING SYSTEMS
dc.subject	BANKS
dc.subject	BASIS POINTS
dc.subject	BOND
dc.subject	BOND INDEX
dc.subject	BOND VALUATIONS
dc.subject	BORROWING
dc.subject	CAPITAL ACCUMULATION
dc.subject	CAPITAL ADEQUACY
dc.subject	CAPITAL FLOWS
dc.subject	CAPITAL INFLOWS
dc.subject	CAPITAL OUTFLOWS
dc.subject	CASH TRANSFERS
dc.subject	CENTRAL BANK
dc.subject	COLLATERAL
dc.subject	COMMODITY PRICE
dc.subject	COMMODITY PRICES
dc.subject	CONSUMER DURABLES
dc.subject	CONSUMER PRICE INDEX
dc.subject	COST OF CREDIT
dc.subject	CREDIT CONSTRAINTS
dc.subject	CREDIT CRUNCH
dc.subject	CREDIT DEFAULT
dc.subject	CREDIT DEFAULT SWAPS
dc.subject	CREDIT GROWTH
dc.subject	CREDIT MARKET
dc.subject	CREDIT MARKETS
dc.subject	CREDIT RISK
dc.subject	CREDIT RISKS
dc.subject	CREDIT SPREADS
dc.subject	CREDITOR
dc.subject	CREDITOR BANK
dc.subject	CREDITOR BANKS
dc.subject	CRISIS COUNTRIES
dc.subject	CURRENCY DEPRECIATIONS
dc.subject	CURRENT ACCOUNT
dc.subject	CURRENT ACCOUNT DEFICITS
dc.subject	DEBT BURDENS
dc.subject	DEBT HOLDING
dc.subject	DEBT OBLIGATIONS
dc.subject	DEBT REPAYMENTS
dc.subject	DEBT SERVICE
dc.subject	DELINQUENCY RATES
dc.subject	DEPOSIT
dc.subject	DEPOSITS
dc.subject	DEVELOPING COUNTRIES
dc.subject	DEVELOPING COUNTRY
dc.subject	DEVELOPMENT BANK
dc.subject	DEVELOPMENT FINANCE
dc.subject	DIVERSIFICATION
dc.subject	DOMESTIC LIQUIDITY
dc.subject	DURABLES
dc.subject	EARNINGS
dc.subject	ECONOMIC ACTIVITIES
dc.subject	ECONOMIC ACTIVITY
dc.subject	ECONOMIC CRISIS
dc.subject	ECONOMIC DEVELOPMENTS
dc.subject	ECONOMIC EFFICIENCY
dc.subject	ECONOMIC GROWTH
dc.subject	ECONOMIC POLICY
dc.subject	EMERGING ECONOMIES
dc.subject	EMERGING MARKET
dc.subject	EMERGING MARKETS
dc.subject	EMPLOYMENT OPPORTUNITIES
dc.subject	EQUIPMENT
dc.subject	EQUITIES
dc.subject	EQUITY HOLDINGS
dc.subject	EQUITY INDEX
dc.subject	EQUITY MARKET
dc.subject	EQUITY MARKETS
dc.subject	EXCHANGE RATE
dc.subject	EXCHANGE RATES
dc.subject	EXPORT EARNINGS
dc.subject	EXTERNAL FINANCE
dc.subject	EXTERNAL FINANCING
dc.subject	EXTERNAL SHOCKS
dc.subject	FAMILIES
dc.subject	FAMILY INCOME
dc.subject	FINANCIAL ASSETS
dc.subject	FINANCIAL CRISIS
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL LITERACY
dc.subject	FINANCIAL MARKET
dc.subject	FINANCIAL MARKETS
dc.subject	FINANCIAL RISK
dc.subject	FINANCIAL SECTOR DEVELOPMENT
dc.subject	FINANCIAL SHOCKS
dc.subject	FINANCIAL VIABILITY
dc.subject	FINANCING REQUIREMENTS
dc.subject	FISCAL DEFICITS
dc.subject	FISCAL POLICY
dc.subject	FOREIGN BANK
dc.subject	FOREIGN CURRENCIES
dc.subject	FOREIGN CURRENCY
dc.subject	FOREIGN CURRENCY EXPOSURES
dc.subject	FOREIGN DIRECT INVESTMENT
dc.subject	FOREIGN INVESTORS
dc.subject	FUNDING SOURCES
dc.subject	GENDER
dc.subject	GLOBAL DEVELOPMENT FINANCE
dc.subject	GLOBAL TRADE
dc.subject	GOVERNMENT DEFICITS
dc.subject	GOVERNMENT POLICIES
dc.subject	GOVERNMENT POLICY
dc.subject	GROSS DOMESTIC PRODUCT
dc.subject	HOME OWNERSHIP
dc.subject	HOMEOWNERS
dc.subject	HOST COUNTRIES
dc.subject	HOUSEHOLD DEBT
dc.subject	HOUSEHOLD INCOME
dc.subject	HOUSEHOLD INCOMES
dc.subject	HOUSEHOLD WEALTH
dc.subject	HOUSEHOLD WELFARE
dc.subject	HOUSEHOLDS
dc.subject	HOUSING LOANS
dc.subject	HUMAN CAPITAL
dc.subject	INCOME FLOWS
dc.subject	INCOME SHOCKS
dc.subject	INDEBTED HOUSEHOLDS
dc.subject	INDEBTEDNESS
dc.subject	INEQUALITY
dc.subject	INFORMAL CREDIT
dc.subject	INTEREST RATE
dc.subject	INTEREST RATE RISKS
dc.subject	INTEREST RATES
dc.subject	INTERNATIONAL BANK
dc.subject	INTERNATIONAL BANKING
dc.subject	INTERNATIONAL FINANCIAL MARKETS
dc.subject	INTERNATIONAL FINANCIAL STATISTICS
dc.subject	INTERNATIONAL SETTLEMENTS
dc.subject	JOB CREATION
dc.subject	LABOR FORCE SURVEYS
dc.subject	LABOR MARKET
dc.subject	LACK OF ACCESS
dc.subject	LIABILITY
dc.subject	LIABILITY SIDE
dc.subject	LIMITED ACCESS
dc.subject	LIQUIDITY
dc.subject	LIQUIDITY PROBLEMS
dc.subject	LIQUIDITY RISK
dc.subject	LIQUIDITY RISKS
dc.subject	LIVING STANDARDS
dc.subject	LOAN
dc.subject	LOAN DELINQUENCY
dc.subject	LOCAL CURRENCY
dc.subject	MACROECONOMIC CRISES
dc.subject	MACROECONOMIC STABILITY
dc.subject	MARK-TO-MARKET
dc.subject	MARKET ENVIRONMENT
dc.subject	MATURITY
dc.subject	MATURITY MISMATCHES
dc.subject	MIGRANT LABOR
dc.subject	MIGRANT WORKERS
dc.subject	MONETARY FUND
dc.subject	MONETARY POLICY
dc.subject	MONEY TRANSFER
dc.subject	MORTGAGE
dc.subject	MORTGAGE DEBT
dc.subject	MORTGAGE LOANS
dc.subject	MORTGAGES
dc.subject	MUTUAL FUND
dc.subject	MUTUAL FUNDS
dc.subject	NET WORTH
dc.subject	NPL
dc.subject	OIL PRICE
dc.subject	OIL PRICES
dc.subject	PENSION
dc.subject	PENSION FUND
dc.subject	PENSION FUNDS
dc.subject	PENSION PROVISION
dc.subject	PENSION SYSTEM
dc.subject	PENSION SYSTEMS
dc.subject	POLICY RESPONSE
dc.subject	POLICY RESPONSES
dc.subject	PORTFOLIO
dc.subject	PORTFOLIO RISK
dc.subject	PRICE CHANGES
dc.subject	PRICE MOVEMENTS
dc.subject	PRIVATE CAPITAL
dc.subject	PRIVATE CREDIT
dc.subject	PRIVATE INVESTMENTS
dc.subject	PUBLIC INVESTMENTS
dc.subject	PURCHASING POWER
dc.subject	PURCHASING POWER PARITY
dc.subject	RECESSION
dc.subject	REMITTANCE
dc.subject	REMITTANCES
dc.subject	RETURNS
dc.subject	RISK AVERSION
dc.subject	RISK MITIGATION
dc.subject	SAFETY NET
dc.subject	SAFETY NETS
dc.subject	SAVINGS
dc.subject	SECONDARY MARKET
dc.subject	SHARE OF EQUITIES
dc.subject	SOCIAL CAPITAL
dc.subject	SOLVENCY
dc.subject	SOURCE OF INCOME
dc.subject	SOURCES OF FUNDS
dc.subject	SOVEREIGN BOND
dc.subject	STANDARD ASSET
dc.subject	TRADE BALANCE
dc.subject	TRADE CREDITS
dc.subject	TRADING
dc.subject	UNEMPLOYMENT
dc.subject	UNEMPLOYMENT INSURANCE
dc.subject	UNION
dc.subject	VALUATION
dc.subject	VULNERABLE HOUSEHOLDS
dc.subject	WEALTH EFFECTS
dc.title	The Crisis Hits Home : Stress-Testing Households in Europe and Central Asia
dc.type	Publications & Research :: Publication
dc.type	Publications & Research :: Publication
dc.coverage	Europe and Central Asia
dc.coverage	Eastern Europe
dc.coverage	Central Asia