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  1. A stress testing framework for the Maltese household sector
    Erschienen: [2022]
    Verlag:  Central Bank of Malta, [Valletta]

    This paper outlines a stress testing framework for the household sector in Malta based on micro data. The analysis depends on granular data relating to income, expenses, and the value of liquid assets from the third wave of the Household Finance and... mehr

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    This paper outlines a stress testing framework for the household sector in Malta based on micro data. The analysis depends on granular data relating to income, expenses, and the value of liquid assets from the third wave of the Household Finance and Consumption Survey and assesses the financial resilience of households to macro-financial shocks. Households' vulnerability is evaluated based on probabilities of default, while loan losses to banks are quantified by means of the exposure at default and loss given default. The analysis examines the impact of four adverse shocks separately: a rise in interest rates, an increase in the unemployment rate, a fall in real estate prices, and a fall in the value of liquid assets. The results indicate that: (i) households are most vulnerable to potential interest rate shocks, (ii) Maltese households have an ample amount of liquid assets that can cover their losses, and (iii) potential loans losses to banks stemming from the household sector are limited. Lastly, to simulate unfavourable economic conditions, the individual shocks are assessed simultaneously by producing two combined stress test scenarios. It is found that the combined high-scale scenario results in a higher impact on the financial vulnerability metrics, but the effects are contained.

     

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    hdl: 10419/268296
    Schriftenreihe: Working papers / Central Bank of Malta ; WP/2022, 04
    Schlagworte: Stress testing; financial stability; HFCS; household finance; household surveys; Malta
    Umfang: 1 Online-Ressource (circa 28 Seiten)
  2. Wealth inequality
    opportunity or unfairness?
    Erschienen: 21 April 2022
    Verlag:  Centre for Economic Policy Research, London

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    Schriftenreihe: Discussion paper series / Centre for Economic Policy Research ; DP17237$p
    Schlagworte: household finance; Wealth Inequality; propagation of inequality; Education; Opportunity; Refugees
    Umfang: 1 Online-Ressource (circa 56 Seiten), Illustrationen
  3. Welfare cuts, local spillovers and financial fragility
    Erschienen: 13 April 2022
    Verlag:  Centre for Economic Policy Research, London

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    Schriftenreihe: Array ; DP17219
    Schlagworte: austerity; employment; Spillovers; household finance
    Umfang: 1 Online-Ressource (circa 49 Seiten), Illustrationen
  4. How do mortgage rate resets affect consumer spending and debt repayment?
    evidence from Canadian consumers
    Erschienen: May 2022
    Verlag:  Federal Reserve Bank of Dallas, Research Department, Dallas

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    Schriftenreihe: Working paper / Federal Reserve Bank of Dallas, Research Department ; 2206
    Schlagworte: Mortgage rate; monetary policy; consumption; consumer expectations; household finance
    Umfang: 1 Online-Ressource (circa 65 Seiten), Illustrationen
  5. Refinancing cross-subsidies in the mortgage market
    Erschienen: 22 July 2022
    Verlag:  Centre for Economic Policy Research, London

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    Schriftenreihe: Array ; DP17491
    Schlagworte: Mortgages; refinancing; cross-subsidies; Wealth Inequality; household inaction; household finance; inertia
    Umfang: 1 Online-Ressource (circa 78 Seiten), Illustrationen
  6. Dynastic home equity
    Erschienen: July 2022
    Verlag:  IZA - Institute of Labor Economics, Bonn, Germany

    Using a nationally representative panel of consumer credit records for the US from 1999 to 2021, we document a positive correlation between child and parent homeownership. We propose a new causal mechanism behind this relationship based on parents... mehr

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    Using a nationally representative panel of consumer credit records for the US from 1999 to 2021, we document a positive correlation between child and parent homeownership. We propose a new causal mechanism behind this relationship based on parents extracting home equity to help finance their child's home purchase and quantify this mechanism in several ways. First, controlling for cohort, zip code, age, and the credit-worthiness of parents and children, we find that children whose parents extract equity are 60% more likely to become a homeowner than children whose homeowner-parents do not extract equity. Second, using an event study approach, we find that the increase in child homeownership occurs almost entirely in the year when parents extract equity. Third, using variation in equity extraction induced by households near leverage constraints, we find parental equity extraction increases the child's probability of becoming a homeowner by about five times. Our results highlight the importance of familial wealth for household wealth accumulation and housing wealth in particular. A back-of-the-envelope calculation suggests that dynastic home equity increases housing wealth inequality among young adults by 20%.

     

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    Schriftenreihe: Discussion paper series / IZA ; no. 15429
    Schlagworte: home equity; intergenerational wealth; inequality; mortgages; housing; household finance
    Umfang: 1 Online-Ressource (circa 58 Seiten), Illustrationen
  7. Shattered housing
    Erschienen: 01 July 2022
    Verlag:  Centre for Economic Policy Research, London

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    Schriftenreihe: Array ; DP17420
    Schlagworte: housing; Homeownership; household finance; Experience effects; war destruction
    Umfang: 1 Online-Ressource (circa 79 Seiten), Illustrationen
  8. Dynastic home equity
    Erschienen: [2022]
    Verlag:  Federal Reserve Bank of San Francisco, [San Francisco, CA]

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    Schriftenreihe: Working papers series / Federal Reserve Bank of San Francisco ; 2022, 13 (July 2022)
    Schlagworte: Home equity; intergenerational wealth; inequality; mortgages; housing; household finance
    Umfang: 1 Online-Ressource (circa 57 Seiten), Illustrationen
  9. Foreclosure kids
    examining the early adult credit usage of adolescents affected by foreclosure
    Erschienen: [2022]
    Verlag:  Research Department, Federal Reserve Bank of Philadelphia, Philadelphia, PA

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    Schriftenreihe: Working papers / Research Department, Federal Reserve Bank of Philadelphia ; 22, 21 (August 2022)
    Schlagworte: foreclosure; credit scores; intergenerational credit; household finance
    Umfang: 1 Online-Ressource (circa 38 Seiten), Illustrationen
  10. The racial wealth gap, financial aid, and college access
    Erschienen: [2022]
    Verlag:  Research Department, Federal Reserve Bank of Philadelphia, Philadelphia, PA

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    Schriftenreihe: Working papers / Research Department, Federal Reserve Bank of Philadelphia ; 22, 32 (September 2022)
    Schlagworte: racial wealth gap; racial wealth inequality; consumer finance; household finance; financial aid; FAFSA; college access; student loans; student debt
    Umfang: 1 Online-Ressource (circa 56 Seiten), Illustrationen
  11. Attitudine alla pianificazione finanziaria delle famiglie italiane
    Erschienen: [2022]
    Verlag:  Consob, Roma

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    Schriftenreihe: Quaderni di finanza / Consob, Commissione nazionale per le società e la borsa ; 89 (ottobre 2022)
    Schlagworte: financial planning; budgeting; household finance; financial control; financial self-efficacy; financial anxiety; financial literacy; financial knowledge
    Umfang: 1 Online-Ressource (circa 44 Seiten)
  12. The economic value of eliminating diseases
    Erschienen: 21 November 2022
    Verlag:  CentER, Tilburg University, [Tilburg]

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    Schriftenreihe: Discussion paper / CentER ; no. 2022, 029
    Schlagworte: health shocks; household finance; life cycle; health economics; public health expenditure; labor earnings; labor participation; mortality; medical expenses
    Umfang: 1 Online-Ressource (circa 56 Seiten), Illustrationen
  13. Five facts about the money holdings of individuals and firms
    Erschienen: [2022]
    Verlag:  Netspar, Network for Studies on Pensions, Aging and Retirement, [Tilburg]

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    Schriftenreihe: Array ; 2022, 026 (09)
    Schlagworte: Money demand; household finance; corporate cash holdings; portfolio choice; low interest rates
    Umfang: 1 Online-Ressource (circa 54 Seiten), Illustrationen
  14. Who pays for your rewards?
    redistribution in the credit card market
    Erschienen: 07 December 2022
    Verlag:  Centre for Economic Policy Research, London

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    Schriftenreihe: Array ; DP17733
    Schlagworte: household finance; credit cards; financial sophistication; rewards
    Umfang: 1 Online-Ressource (circa 72 Seiten), Illustrationen
  15. The effects of a macroprudential loosening
    the importance of borrowers' choices
    Erschienen: [2022]
    Verlag:  [Central Bank of Ireland], Dublin, Ireland

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    Schriftenreihe: Research technical paper / Central Bank of Ireland ; vol. 2022, no. 09
    Schlagworte: Macroprudential policy; credit loosening; household finance
    Umfang: 1 Online-Ressource (circa 33 Seiten), Illustrationen
  16. Impacts of Covid-19 on households in ASEAN countries and their implications for human capital development
    medium-run impacts and the role of government support
    Erschienen: [2022]
    Verlag:  Asian Development Bank Institute, Tokyo, Japan

    The outbreak of the COVID-19 virus and the resulting falls in demand due both to uncertainty and policy interventions such as lockdowns, "social distancing," and travel restrictions are having a severe impact on Asian economies and hence on Asian... mehr

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    Max-Planck-Institut für ausländisches öffentliches Recht und Völkerrecht, Bibliothek
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    The outbreak of the COVID-19 virus and the resulting falls in demand due both to uncertainty and policy interventions such as lockdowns, "social distancing," and travel restrictions are having a severe impact on Asian economies and hence on Asian households. These negative impacts come through a variety of channels, including loss of employment or reduced working hours, loss of sales and income of a household business, inability to travel to work, an increased need to stay at home to look after children or sick household members, higher prices and/or lack of availability of staple items, reduced access to schooling, etc. At the same time, governments implemented aid programs to support households and businesses. In order to better understand these impacts, we carried out computer-assisted telephone interviews of households in seven ADB developing member countries: Cambodia, the Lao People's Democratic Republic, Indonesia, Malaysia, the Philippines, Thailand, and Viet Nam. Two waves of the survey were conducted: the first from the end of May to the end of July 2020 and the second from the end of January to February 2021. The following factors contributed to declines in income and expenditure and the experience of financial difficulty: being in a lower-income group, lower education of household head, female household head, having at least one person who lost their job, and being located in a lockdown area. The receipt of government aid did not vary much by income class, but the amount relative to pre-pandemic income was much higher for lower-income groups. Nonetheless, we could not find positive effects of the receipt of government aid on household income or expenditure. One of the most striking findings is that 60% of households experienced financial difficulties during the first-wave period, and this ratio actually increased to 78% in the second-wave period. This suggests that the prolonged nature of the pandemic has put increasing strains on household finances, even though incomes have stabilized somewhat. Only about 7% of children who stopped attending school could not participate in online learning, but some could only participate partially due to weak/insufficient Internet connections and a lack of digital devices. Two COVID-19-related factors-having at least one person who lost their job or had their working hours reduced and experiencing financial difficulties-significantly affect the intensity of online classes taken by children in an average household. This has negative implications for longer-term human capital formation.

     

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    Weitere Identifier:
    hdl: 10419/264172
    Schriftenreihe: ADBI working paper series ; no. 1312 (May 2022)
    Schlagworte: COVID-19; ASEAN; household income; employment; consumption; household finance; government aid
    Umfang: 1 Online-Ressource (circa 47 Seiten), Illustrationen
  17. Experimental Research on Retirement Decision-Making
    Evidence from Reproductions
    Erschienen: 2022
    Verlag:  SSRN, [S.l.]

    We adapt the design of five experimental studies on retirement decision-making and conduct reproductions with a larger sample from the broader population. We reproduce most of the main effects of the original studies. In particular, we find that... mehr

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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    We adapt the design of five experimental studies on retirement decision-making and conduct reproductions with a larger sample from the broader population. We reproduce most of the main effects of the original studies. In particular, we find that consumption decisions are less efficient when subjects need to borrow from the future than save from the present. When subjects collect retirement benefits as lump-sum instead of annuities, they choose to retire later. The duration of retirement affects the saving behavior of the subjects. Savings are higher when they are incentivized with matching contributions than with tax rebates. When faced with stochastic survival risk, subjects make partial adjustments to spending paths. We also propose a further experimental research agenda in related topics and discuss practical issues on subject recruitment, attrition, and redesign of complex tasks

     

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    Schriftenreihe: Swiss Finance Institute Research Paper ; No. 22-72
    Schlagworte: household finance; retirement decision; savings; annuities; life-cycle optimization; income smoothing; experiments; reproductions
    Umfang: 1 Online-Ressource (53 p)
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    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 12, 2022 erstellt

  18. Who pays for your rewards?
    redistribution in the credit card market
    Erschienen: December 2022
    Verlag:  Divisions of Research & Statistics and Monetary Affairs, Federal Reserve Board, Washington, D.C.

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    Schriftenreihe: Finance and economics discussion series ; 2023, 007
    Schlagworte: household finance; credit cards; financial sophistication; rewards
    Umfang: 1 Online-Ressource (circa 70 Seiten), Illustrationen
  19. Attitude towards financial planning of Italian households
    Erschienen: November 2022
    Verlag:  CEFIN, Centro Studi di Banca e Finanza, Dipartimento di Economia Marco Biagi, Università di Modena e Reggio Emilia, Modena (Italy)

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    Schriftenreihe: CEFIN working papers ; no 91
    Schlagworte: financial planning; budgeting; household finance; financial control; financial self efficacy; financial literacy; financial knowledge
    Umfang: 1 Online-Ressource (circa 47 Seiten)
  20. Attitude towards financial planning of Italian households
    Erschienen: [2022]
    Verlag:  CEIS Tor Vergata, [Rom]

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    Schriftenreihe: CEIS Tor Vergata research paper series ; vol. 20, issue 5 = no. 544 (December 2022)
    Schlagworte: financial planning; budgeting; household finance; financial control; financial self-efficacy; financial literacy; financial knowledge
    Umfang: 1 Online-Ressource (circa 45 Seiten)
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    Auf der Frontdoor und auf der 2. Seite wird der 5. Verfasser von der Titelseite "Giovanni Siciliano" nicht genannt sondern Paola Soccorso