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Stress Testing Household Debt in Korea / / Meral Karasulu



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Autore: Karasulu Meral Visualizza persona
Titolo: Stress Testing Household Debt in Korea / / Meral Karasulu Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2008
Edizione: 1st ed.
Descrizione fisica: 1 online resource (41 p.)
Disciplina: 332.7
332.7650947
Soggetto topico: Consumer credit - Korea
Debt - Korea
Finance - Korea
Financial services industry - Korea
Macroeconomics
Real Estate
Industries: Financial Services
Aggregate Factor Income Distribution
Personal Income, Wealth, and Their Distributions
Macroeconomics: Consumption
Saving
Wealth
Real Estate Markets, Spatial Production Analysis, and Firm Location: General
Banks
Depository Institutions
Micro Finance Institutions
Mortgages
Property & real estate
Finance
Income
Personal income
Consumption
Real estate prices
Economics
Housing
Prices
Soggetto geografico: Korea, Republic of
Note generali: Description based upon print version of record.
Nota di bibliografia: Includes bibliographical references.
Nota di contenuto: Cover 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
Sommario/riassunto: Korean 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.
Titolo autorizzato: Stress Testing Household Debt in Korea  Visualizza cluster
ISBN: 1-4623-3459-8
1-4527-6320-8
1-4518-7113-9
9786612842061
1-282-84206-4
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910827080903321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2008/255