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The crisis hits home: stress testing households in Eastern Europe and Central Asia by Tiongson, Erwin ;Gueorguieva, Anna I. ;Levin, Victoria ;Subbarao, Kalanidhi ;Sugawara, Naotaka ;Sulla, Victor ;Taylor, Ashley is a nonfiction available to read on EtoBox.

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The crisis threatens the welfare of about 160 million people in the Europe and Central Asia (ECA) region who are poor or are just above the poverty line. Using pre-crisis household data along with aggregate macroeconomic outturns to simulate the impact of the crisis on households transmitted via credit market shocks, price shocks, and income shocks this report finds that adverse effects are widespread and that poor and non-poor households alike are vulnerable. By 2010, for the region as a whole, some 11 million more people will likely be in poverty and over 23 million more people will find themselves just above the poverty line because of the crisis. The aggregate results mask the heterogeneity of impact within countries, including the concentration of the poverty impact in selected economic sectors. Meanwhile, stress tests on household indebtedness in selected countries suggest that ongoing macroeconomic shocks will expand the pool of households unable to service their debt, many of them from among the ranks of relatively richer households. In fact, already there are rising household loan delinquency rates. Finally, there is evidence that the food and fuel crisis is not over an

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Author

Tiongson, Erwin ;Gueorguieva, Anna I. ;Levin, Victoria ;Subbarao, Kalanidhi ;Sugawara, Naotaka ;Sulla, Victor ;Taylor, Ashley

Publisher

world bank publications

Published

2009

Language

EN

ISBN

9786612461316

Category

nonfiction

Subjects

Economics, Management, Business