Theoretical and Applied Economics
No. 5 / 2012 (570)
Comportamentul financiar al populaţiei în timpul crizei
Bucharest Academy of Economic Studies
Luminița TĂTĂRICI
Bucharest Academy of Economic Studies
Cristina VIŞAN
Bucharest Academy of Economic Studies
Abstract. This paper presents a framework for credit risk modeling of the household sector that follows a top-down approach using panel techniques. The results indicate that the determinants of default on bank loans are unemployment, exchange rate, industrial production, indebtedness and interest rate spreads. It is remarked that default events for the household sector occur with delay in case of adverse macroeconomic developments. There are two possible explanations: i) there is no personal bankruptcy law for individuals, and ii) public administration appears to adjusts slower during recessions, an important part of the work force being part of this system.
Keywords: financial stability; credit risk; panel estimation; default.
Contents
- Optimal Labor Contracts
with Asymmetric Information and More than Two Types of Agent
Daniela Elena MARINESCU
Dumitru MARIN
- Inflation Targeting in the Romanian Banking Brushwood
Georgiana BALABAN
Dorel AILENEI
- Oligarchy versus Democracy
and Regulation versus Deregulation
under the Globalization Effect
Dumitru-Alexandru BODISLAV
- Using Garch-in-Mean Model to Investigate Volatility and Persistence
at Different Frequencies for Bucharest Stock Exchange during 1997-2012
Iulian PANAIT
Ecaterina Oana SLĂVESCU
- Preparation of Financial Statements for Sme’s in Romania. Interest for Cash-Flow Statement
Nicoleta FARCANE
Sorinel CĂPUŞNEANU
Sorin BRICIU
- The Biblical Matrix of Economics
Grigore PIROŞCĂ
Angela ROGOJANU
- The Sustainable Development Model
Cristina BURGHELEA
- Comportamentul financiar al populaţiei în timpul crizei
Bogdan CHIRIACESCU
Luminița TĂTĂRICI
Cristina VIŞAN
- Education and Crisis
Marius-Cristian PANĂ
- The Post-Crisis Healthcare System:
Effects of the Economic Crisis in Romania
Marta Christina SUCIU
Cristian Adrian STAN
Luciana PICIORUŞ
Cosmin Ionuţ IMBRIŞCĂ
- Business Incubators – Favorable Environment for Small and Medium Enterprises Development
Camelia MORARU
Alexandru RUSEI
- Procedural and Systematic Crisis Approach and Crisis Management
Dragoş Ionuţ TĂNASE