000			01795nam a22002777u 4500
001			pwiiw3194
003			OSt
005			20260518120109.0
008			121123t2012 au ||||| |||| 00| ||eng d
040			_cOSt
041			_aeng
100	1		_aHerceg, Ivana
245	1	0	_aA New Cluster-Based Financial Vulnerability Indicator: The Analytical Concept and its Application for Stress Testing in a Post-Socialist Economy
260			_aWien : _bWiener Institut für Internationale Wirtschaftsvergleiche (wiiw), _c2012.
490	1		_awiiw Balkan Observatory Working Papers _v100
520			_aThis paper proposes a new approach to household financial vulnerability analysis by employing cluster analysis techniques in the identification of potentially vulnerable households. The cluster-based vulnerability indicator is combined with a binary dependant variable model and used in stress testing. The proposed methodology is applied to householdlevel data for a post-socialist economy – that of Croatia – with the specific aim of testing the extent to which the prolonged economic downturn following the Great Recession of 2008-2009 might hurt indebted households. The paper compares the results based on the new approach with those based on traditional stress testing methods. Interest rate shocks had a stronger impact on household vulnerability in the traditional approach, whereas decreases in employment are found to be more disruptive in the cluster-based approach.
650			_ahousehold financial vulnerability
650			_acluster analysis
650			_astress testing
650			_aCroatia
651			_aCroatia
700	1		_aNestić, Danijel
830		0	_v100 _wWIIW0000140 _twiiw Balkan Observatory Working Papers
856	4	0	_uhttps://wiiw.ac.at/p-3194.html
942			_cP _2z
999			_c8788 _d8788