Bulgaria : Household Welfare during the 2010 Recession and Recovery

This report assesses the impact of the 2009 recession and the fragile recovery of 2010 on the welfare of Bulgarian households and the effectiveness of Government policies in mitigating its costs. By the beginning of 2009, the global economic crisis...

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Bibliographic Details
Main Author:	World Bank
Format:	Policy Note
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ABSOLUTE POVERTY ACCESS TO SERVICES ACCOUNTING ACTIVE LABOR ACTIVE LABOR MARKET ACTIVE LABOR MARKET PROGRAMS ADMINISTRATIVE COSTS AGE GROUP AGE GROUPS AGGREGATE DEMAND AGRICULTURAL EMPLOYMENT AGRICULTURE ARREARS ASSET HOLDINGS ASSET VALUES BENEFICIARIES BORROWING BUDGET DEFICIT CHILD ALLOWANCES COMMODITY PRICES CONSUMER GOODS CONSUMER PRICE INDEX CONSUMPTION EXPENDITURE CREDIT AVAILABILITY CREDIT MARKET CURRENCY DISCOURAGED WORKERS DISTRIBUTION OF BENEFITS DURABLE DURABLE GOODS DURABLES EARNING ECONOMIC CONDITIONS ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC RECOVERY ECONOMIC SECTORS ECONOMIC SHOCK ECONOMIC SHOCKS ECONOMIC SITUATION ELASTICITY EMPLOYEE EMPLOYMENT GROWTH EMPLOYMENT INCOME EMPLOYMENT LEVEL EMPLOYMENT PROSPECTS EMPLOYMENT STATUS EQUIPMENT EXCHANGE RATES EXPENDITURES EXPORTS FAMILY LABOR FEMALE-HEADED HOUSEHOLDS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SHOCKS FOOD CONSUMPTION FOOD EXPENDITURE FOREIGN DIRECT INVESTMENT FRAUD GDP GINI COEFFICIENT GOVERNANCE ISSUES GOVERNMENT EXPENDITURE GOVERNMENT POLICIES GOVERNMENT POLICY GROSS DOMESTIC PRODUCT GROWTH PROJECTIONS GROWTH RATE HEALTH INSURANCE HIGH UNEMPLOYMENT HOUSEHOLD BUDGET HOUSEHOLD CHARACTERISTICS HOUSEHOLD CONSUMPTION HOUSEHOLD ENTERPRISE HOUSEHOLD HEAD HOUSEHOLD INCOME HOUSEHOLD INCOMES HOUSEHOLD PLOTS HOUSEHOLD SIZE HOUSEHOLD SURVEY HOUSEHOLD SURVEYS HOUSEHOLD WELFARE HUMAN CAPITAL HUMAN DEVELOPMENT INCIDENCE OF POVERTY INCOME INCOME DISTRIBUTION INCOME GROUPS INCOME INEQUALITY INCOME LEVEL INCOME LEVELS INCOME POVERTY INCOME QUINTILE INCOME SHOCK INCOME SHOCKS INCOME SMOOTHING INFLATION INFLATION RATES INFORMAL EMPLOYMENT INFORMAL LABOR MARKET INFORMAL LOANS INFORMAL SAFETY NETS INFORMAL SECTOR INFORMAL TRANSFERS INTEREST INCOME INTERNATIONAL BANK JOB LOSS JOB LOSSES LABOR FORCE LABOR MARKET LABOR MARKET CONDITIONS LABOR MARKET POLICY LABOR MARKET PROGRAMS LABOR MARKET SITUATION LABOR MARKETS LABOR REGULATION LABOR SHORTAGES LABOR SUPPLY LIVING STANDARD LIVING STANDARDS MACROECONOMIC DATA MACROECONOMIC POLICIES MACROECONOMIC SHOCKS MARKET PRICES MARKET VALUES MOBILE PHONE MONETARY FUND MORTGAGE MORTGAGES NET EXPORTS OLDER WORKERS OPEN ECONOMY PENSION PENSIONS PER CAPITA CONSUMPTION PER CAPITA INCOME POLICY RESPONSE POOR POOR HOUSEHOLDS PORTFOLIO POVERTY DYNAMICS POVERTY GAP POVERTY GAP INDEX POVERTY HEADCOUNT RATE POVERTY INDICATORS POVERTY LINE POVERTY MEASURES POVERTY PROFILE POVERTY RATES POVERTY RISK POVERTY STATUS PRELIMINARY RESULTS PREVIOUS STUDIES PRICE CHANGES PRIMARY EDUCATION PRIMARY SOURCE PRIVATE COSTS PRIVATE SECTOR PRIVATE SECTOR WORKER PRIVATE TRANSFERS PRODUCT MARKETS PUBLIC SECTOR WORKER PUBLIC SERVICES PUBLIC SPENDING PURCHASING POWER REAL WAGES RECESSION REMITTANCES RETAIL TRADE RURAL RURAL INCOMES RURAL POVERTY SAFETY SAFETY NET SAVINGS SELF-EMPLOYMENT INCOME SOCIAL ASSISTANCE SOCIAL BENEFITS SOCIAL IMPACTS SOCIAL INCLUSION SOCIAL INSURANCE SYSTEM STOCK MARKET TARGETING TAX TOTAL EMPLOYMENT TOTAL WAGE TRADING UNEMPLOYED UNEMPLOYMENT UNEMPLOYMENT BENEFIT UNEMPLOYMENT BENEFITS UNEMPLOYMENT INSURANCE UNEMPLOYMENT RATE UNEMPLOYMENT RATES WAGE BILL WAGES WEALTH YOUTH UNEMPLOYMENT
Online Access:	http://documents.worldbank.org/curated/en/2011/02/16428021/bulgaria-household-welfare-during-2010-recession-recovery http://hdl.handle.net/10986/12789

Description
Summary:	This report assesses the impact of the 2009 recession and the fragile recovery of 2010 on the welfare of Bulgarian households and the effectiveness of Government policies in mitigating its costs. By the beginning of 2009, the global economic crisis had affected much of Europe, including Bulgaria. The output decline lasted five quarters, followed by a modest increase during the rest of 2010. However, despite the large fluctuation in output during 2009-10, households preserved their 2008 income level throughout this period. What lies behind this example of successful income smoothing amid a large regional and national recession? Which were the key transmission channels through which the macro crisis filtered through to the household level? What population groups were most affected? What was the role played by public policy in mitigating the impact of the crisis? What lessons can be learned from the Bulgarian experience on protecting households during a crisis, while maintaining prudent fiscal and macroeconomic policies? To answer these questions, the report uses an exceptionally rich survey to assess how households were impacted, how they responded to the crisis and how/if they benefited from a comprehensive government policy package.

Bulgaria : Household Welfare during the 2010 Recession and Recovery

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