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  1. Temperature, climate change, and household financial behaviour
    evidence from Viet Nam
    Author: Awaworyi Churchill, Sefa; Trinh, Trong-Anh; Danquah, Michael
    Published: July 2023
    Publisher:  United Nations University World Institute for Development Economics Research, Helsinki, Finland

    We examine the impact of temperature shocks and climate change on household financial behaviour in Viet Nam. To do so, we first estimate the effect of temperature on household borrowing and savings using Vietnamese longitudinal data that matches... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 248
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    We examine the impact of temperature shocks and climate change on household financial behaviour in Viet Nam. To do so, we first estimate the effect of temperature on household borrowing and savings using Vietnamese longitudinal data that matches satellite reanalysis temperature data with household information over the period 2008 to 2016. We find that an additional day with an average temperature of greater than 30°C, relative to the number of days in the 18-22°C range, is associated with a 6.3 per cent decrease in household savings and a 1.4 per cent increase in household borrowing. In the case of household savings, we find that the effects of temperature shocks are more pronounced on informal savings than formal savings. Further, total agricultural production and rice production are mechanisms through which temperature shocks influence household savings and borrowing. Specifically, by reducing the level of agricultural production, (hot) temperature shocks decrease household savings and increase household borrowing. Our estimates suggest that over the next century, under the conventional trajectory in which countervailing measures are not adopted to address climate change, climate change will be responsible for an additional 0.124 standard deviation decrease in household savings and a 0.102 standard deviation increase in household debt.

     
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789292674038
    Other identifier:
    hdl: 10419/283791
    Series: WIDER working paper ; 2023, 95
    Subjects: temperature; weather; climate change; savings; borrowing; Viet Nam
    Scope: 1 Online-Ressource (circa 28 Seiten), Illustrationen
  2. Quantifying credit gaps using survey data on discouraged borrowers
    Author: Akbas, Ozan E.; Betz, Frank; Gattini, Luca
    Published: November 2023
    Publisher:  European Investment Bank, Luxembourg

    The credit gap in this study is given by the financing needs of firms that are bankable but discouraged from applying for a loan. To quantify the credit gap, we combine a scoring model that assesses the creditworthiness of discouraged firms with a... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 429
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    The credit gap in this study is given by the financing needs of firms that are bankable but discouraged from applying for a loan. To quantify the credit gap, we combine a scoring model that assesses the creditworthiness of discouraged firms with a credit allocation rule. Our study covers 35 emerging markets and developing economies and uses the 2018-2020 EBRD-EIB-World Bank Enterprise Survey. We show that on average discouraged firms are less creditworthy than successful applicants. Nonetheless, the share of bankable discouraged firms is large, suggesting inefficient credit rationing. The baseline results point to an aggregate credit gap of 8.4% of GDP with significant variation across countries. SMEs account for more than two-thirds of the total, reflecting both their contribution to economic activity and the fact that they are more likely to be credit-constrained.

     
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789286156212
    Other identifier:
    hdl: 10419/280955
    Edition: This Version: 20 September 2023
    Series: Economics - working papers ; 2023, 06
    Subjects: credit rationing; discouraged borrowers; firm-level data; EMDEs; financial solvency; loan; credit policy; financial market; small and medium-sized enterprises; economic activity; borrowing; economic survey
    Scope: 1 Online-Ressource (circa 50 Seiten), Illustrationen
  3. Consumption and account balances in crises
    have we neglected cognitive load?
    Author: Assenza, Tiziana; Cardaci, Alberto; Chaliasos, Michaēl
    Published: [2023]
    Publisher:  Institute for Monetary and Financial Stability, Goethe University Frankfurt, Frankfurt am Main

    The complexities of geopolitical events, financial and fiscal crises, and the ebb and flow of personal life circumstances can weigh heavily on individuals' minds as they make critical economic decisions. To investigate the impact of cognitive load on... more

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    The complexities of geopolitical events, financial and fiscal crises, and the ebb and flow of personal life circumstances can weigh heavily on individuals' minds as they make critical economic decisions. To investigate the impact of cognitive load on such decisions, we conducted an incentivized online experiment involving a representative sample of 2,000 French households.. The results revealed that exposure to a taxing and persistent cognitive load significantly reduced consumption, particularly for individuals under the threat of furlough, while simultaneously increasing their account balances, particularly for those not facing such employment uncertainty. These effects were not driven by supply constraints or a worsening of credit constraints. Instead, cognitive load primarily affected the optimality of the chosen policy rules and impaired the ability of the standard economic model to accurately predict consumption patterns, although this effect was less pronounced among college-educated subjects.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/281064
    Series: Working paper series / Institute for Monetary and Financial Stability ; no. 197 (2023)
    Subjects: consumption; saving; borrowing; cognitive load; online experiments; RCT; crises; furlough
    Scope: 1 Online-Ressource (circa 56 Seiten), Illustrationen
  4. Consumption and account balances in crises
    have we neglected cognitive load?
    Author: Assenza, Tiziana; Cardaci, Alberto; Chaliasos, Michaēl
    Published: December 2023
    Publisher:  [Toulouse School of Economics], [Toulouse]

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working papers / Toulouse School of Economics ; no 1499
    Subjects: consumption; saving; borrowing; cognitive load; online experiments; RCT; crises; furlough
    Scope: 1 Online-Ressource (circa 53 Seiten), Illustrationen
  5. Beyond the Headline
    How Personal Inflation Exposure Shapes Households’ Financial Choices
    Author: Basten, Christoph; Kukk, Merike; Toczynski, Jan
    Published: 2023
    Publisher:  SSRN, [S.l.]

    Using unique account-level data from a high inflation period in Estonia in 2005-11 and interactive fixed effect estimation, we find individual consumption to depend on personal beyond national headline inflation. Foreign shocks to selected goods’... more

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    Using unique account-level data from a high inflation period in Estonia in 2005-11 and interactive fixed effect estimation, we find individual consumption to depend on personal beyond national headline inflation. Foreign shocks to selected goods’ inflation affect disproportionately households with greater consumption basket weights on these goods and make them increase consumption by an extra 1.3% per percentage point of higher inflation exposure, financed with more net borrowing. Indebted households respond stronger, consistent with a debt depreciation effect. Resulting extra demand for goods with higher inflation can reinforce inflation, letting future inflation depend on its current distribution

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Swiss Finance Institute Research Paper ; No. 23-15
    Subjects: inflation heterogeneity; personal inflation exposure; consumption; borrowing; interactive fixed effects; intertemporal choices
    Other subjects: Array
    Scope: 1 Online-Ressource (45 p)
    Notes:

    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments February 24, 2023 erstellt