How the 2008 financial crisis affected the Spanish economy due to household income
Archivos
Fecha
2024-10-12
Título de la revista
ISSN de la revista
Título del volumen
Editor
AMER INST MATHEMATICAL SCIENCES-AIMS
Resumen
Economic crises do not affect all households in the same way; therefore, it is crucial to
analyze the differences in their impact based on household income. The last economic crisis, the
financial crisis of 2008, lasted until 2013 in Spain; however, economic recovery was not considered to
have been effectively achieved until 2016, when economic performance exceeded the pre-crisis level.
Economic recovery was not reflected in households in the same way because of household income
inequalities. This study identified the different effects of an economic crisis on households and
economic sectors through a multisectoral model by analyzing the consumption behaviors of
households according to monthly income after the crisis. A simulation was carried out based on
consumption data for 2015, which identified the production sectors that suffered the greatest losses
because of a crisis-induced decrease in household consumption spending. The results reveal that the
decrease in low-income household consumption mainly affected accommodation and food services,
manufactured products, wholesale and retail trade services, and activity generated by households as
employers of domestic workers.
Descripción
Palabras clave
Citación
Martínez-García, M. Á., & Cámara, Á. (2024). How the 2008 financial crisis affected the Spanish economy due to household income. National Accounting Review, 6(4), 465-479.
Colecciones
Excepto si se señala otra cosa, la licencia del ítem se describe como Attribution 4.0 International