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010   $a1-4623-3459-8
010   $a1-4527-6320-8
010   $a1-4518-7113-9
010   $a9786612842061
010   $a1-282-84206-4
035   $a(CKB)3170000000055154
035   $a(EBL)1608086
035   $a(SSID)ssj0000943262
035   $a(PQKBManifestationID)11503277
035   $a(PQKBTitleCode)TC0000943262
035   $a(PQKBWorkID)10975543
035   $a(PQKB)10729439
035   $a(OCoLC)762470617
035   $a(MiAaPQ)EBC1608086
035   $a(IMF)WPIEE2008255
035   $a(EXLCZ)993170000000055154
100   $a20020129d2008      uf         0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aStress Testing Household Debt in Korea /$fMeral Karasulu
205   $a1st ed.
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2008.
215   $a1 online resource (41 p.)
225 1 $aIMF Working Papers
225  0$aIMF working paper ;$vWP/08/255
300   $aDescription based upon print version of record.
311   $a1-4519-1566-7 
320   $aIncludes bibliographical references.
327   $aCover Page; Title Page; Copyright Page; Contents; I. Introduction; 1. International Comparison of Household Debt; II. What Explains Korean Households' Debt Levels?; III. Stress Tests; IV. Conclusions; 2. Comparison of Stress Tests; Appendix: Description of the Data; 1. Summary Statistics; 2. How Representative is KLIPS?; References; Footnotes
330 3 $aKorean household debt has reached 148 percent of disposable income, high by emerging market standards. Most of this debt remains at variable rates, shifting the interest rate risk from better diversified financial institutions to households and increasing their sensitivity to macroeconomic shocks. This paper examines the sources of, and risks from, household debt by employing stress tests on household level panel data. Results suggest that a 100-300 bps increase in interest rates could increase distressed household debt household debt by 8½?17 percentage points (ppt). A drop in real estate prices by 10?30 percent could add another 4 ppt to distressed debt. Ongoing transition to amortizing mortgages in 2008?09 presents additional challenges as interest payments on debt are likely to increase further.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2008/255
606   $aConsumer credit$zKorea
606   $aDebt$zKorea
606   $aFinance$zKorea
606   $aFinancial services industry$zKorea
606   $aMacroeconomics$2imf
606   $aReal Estate$2imf
606   $aIndustries: Financial Services$2imf
606   $aAggregate Factor Income Distribution$2imf
606   $aPersonal Income, Wealth, and Their Distributions$2imf
606   $aMacroeconomics: Consumption$2imf
606   $aSaving$2imf
606   $aWealth$2imf
606   $aReal Estate Markets, Spatial Production Analysis, and Firm Location: General$2imf
606   $aBanks$2imf
606   $aDepository Institutions$2imf
606   $aMicro Finance Institutions$2imf
606   $aMortgages$2imf
606   $aProperty & real estate$2imf
606   $aFinance$2imf
606   $aIncome$2imf
606   $aPersonal income$2imf
606   $aConsumption$2imf
606   $aReal estate prices$2imf
606   $aEconomics$2imf
606   $aHousing$2imf
606   $aPrices$2imf
607   $aKorea, Republic of$2imf
615  0$aConsumer credit
615  0$aDebt
615  0$aFinance
615  0$aFinancial services industry
615  7$aMacroeconomics
615  7$aReal Estate
615  7$aIndustries: Financial Services
615  7$aAggregate Factor Income Distribution
615  7$aPersonal Income, Wealth, and Their Distributions
615  7$aMacroeconomics: Consumption
615  7$aSaving
615  7$aWealth
615  7$aReal Estate Markets, Spatial Production Analysis, and Firm Location: General
615  7$aBanks
615  7$aDepository Institutions
615  7$aMicro Finance Institutions
615  7$aMortgages
615  7$aProperty & real estate
615  7$aFinance
615  7$aIncome
615  7$aPersonal income
615  7$aConsumption
615  7$aReal estate prices
615  7$aEconomics
615  7$aHousing
615  7$aPrices
676   $a332.7
676   $a332.7650947
700   $aKarasulu$b Meral$01629086
801  0$bDcWaIMF
906   $aBOOK
912   $a9910827080903321
996   $aStress Testing Household Debt in Korea$93966600
997   $aUNINA