. "Household balance sheets and economic crisis"@en . "19742" . "P(GA14-02108S), P(GAP403/10/1235)" . . . "1212-3951" . "12"^^ . "RIV/00216208:11230/14:10281445" . . . . . . "1"^^ . "insolvency; micro simulations; credit risk modelling; households' distress; household default; credit cycle; Aggregate consumption"@en . "1"^^ . . . "CZ - \u010Cesk\u00E1 republika" . "17" . . . "Household balance sheets and economic crisis" . . "Household balance sheets and economic crisis"@en . "Household balance sheets and economic crisis" . . . "In this paper, the impact of an economic downturn on the household sector is studied. Household budgets can be negatively affected by declines in nominal wages and increases in unemployment. This effect is tested for the small, open, emerging economy using the estimated macro model. As a result of a lack of individual data on household finances, micro data are simulated. It is clearly shown by the conducted analysis that there is a significant additional decline in consumption related to an increase in household default rates and unemployment. It is found that potential household insolvencies have important implications for the financial system as well as for the macroeconomy." . . . . "11230" . . "2" . "RIV/00216208:11230/14:10281445!RIV15-GA0-11230___" . "In this paper, the impact of an economic downturn on the household sector is studied. Household budgets can be negatively affected by declines in nominal wages and increases in unemployment. This effect is tested for the small, open, emerging economy using the estimated macro model. As a result of a lack of individual data on household finances, micro data are simulated. It is clearly shown by the conducted analysis that there is a significant additional decline in consumption related to an increase in household default rates and unemployment. It is found that potential household insolvencies have important implications for the financial system as well as for the macroeconomy."@en . "Jakub\u00EDk, Petr" . . "Ekonomick\u00E1 revue (Central European Review of Ecomic Issues.)" . "[9C8E3EAC84AE]" .