Mhux disponibbli bil-Malti
Athanasios Tsiortas
Statistics
- Division
Monetary & Economic Statistics
- Current Position
-
Research Analyst
- Fields of interest
-
Microeconomics
- Education
- 2024-
PhD in Economics, University of Glasgow, Glasgow, United Kingdom
- 2019-2020
Master in Economics, Barcelona School of Economics, Barcelona, Spain
- 2015-2018
BSc in Economics, University of Mannheim, Mannheim, Germany
- Professional experience
- 2021-2023
Research Analyst - Monetary Policy Research Division, Directorate General Research, European Central Bank
- 15 May 2024
- THE ECB BLOGDetails
- JEL Code
- E51 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Money Supply, Credit, Money Multipliers
E43 : Macroeconomics and Monetary Economics→Money and Interest Rates→Interest Rates: Determination, Term Structure, and Effects
G21 : Financial Economics→Financial Institutions and Services→Banks, Depository Institutions, Micro Finance Institutions, Mortgages
- 27 March 2024
- WORKING PAPER SERIES - No. 2922Details
- Abstract
- This paper analyses the consumer’s decision to apply for credit and the probability of the credit being accepted in the euro area during a period characterized by the unprecedented concomitance of events and changing borrowing conditions linked to the global COVID-19 pandemic and the Russian invasion of Ukraine. We use data between 2020Q1 and 2023Q2 from the ECB’s Consumer Expectations Survey. We find that the credit demand is highest when the first lockdown ends and drops when supportive monetary compensation schemes are implemented. There is evidence that constrained households are significantly less likely to apply for credit. Credit is more likely to be accepted under favourable borrowing conditions and after the approval of national recovery plans. We also find that demographic, economic factors, perceptions and expectations are associated with the demand for credit and the credit grant.
- JEL Code
- C23 : Mathematical and Quantitative Methods→Single Equation Models, Single Variables→Panel Data Models, Spatio-temporal Models
D12 : Microeconomics→Household Behavior and Family Economics→Consumer Economics: Empirical Analysis
D14 : Microeconomics→Household Behavior and Family Economics→Household Saving; Personal Finance
G51 : Financial Economics