Are Canadian households financially distressed? A disaggregated analysis

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dc.contributor.advisorChowdhury, Murshed
dc.contributor.authorChoudhury, Samrana Noor
dc.date.accessioned2024-03-06T15:18:53Z
dc.date.available2024-03-06T15:18:53Z
dc.date.issued2023-12
dc.description.abstractThis study constructs a Financial Distress Index (FDI) for Canadian households and simultaneously examines its determinants using Statistics Canada's Survey of Financial Security (SFS) data (SFS 2019, SFS2016, SFS2012, SFS2005, and SFS1999). Employing Polychoric Principal Component Analysis (PPCA), we choose seven indicators to construct the index: debt-asset ratio, residence-ownership, RRSP withdrawal, bank saving, credit-card balance, payday loan, and stock-ownership. To find the drivers of financial distress, FDI is used as a continuous dependent variable in a fractional probit model. For robustness, marginal effects are estimated from a probit model. We find a higher consumer debt-to-total debt ratio, higher mortgage on principal residence, student loan debt, line of credit debt, and a larger family size contribute to financial distress. Conversely, higher education, greater income, more assets, and owning bonds, lessen the likelihood of distress. The study further sheds light on a comparative analysis of the financial distress across provinces and years.
dc.description.copyright© Samrana Noor Choudhury 2023
dc.format.extentvii, 61
dc.format.mediumelectronic
dc.identifier.oclc(OCoLC)1440144514en
dc.identifier.otherThesis 11342en
dc.identifier.urihttps://unbscholar.lib.unb.ca/handle/1882/37745
dc.language.isoen
dc.publisherUniversity of New Brunswick
dc.relationHarrison-McCain Foundation
dc.rightshttp://purl.org/coar/access_right/c_abf2
dc.subject.disciplineEconomics
dc.subject.lcshFinancial crises--Canada.en
dc.subject.lcshDebt--Canada.en
dc.subject.lcshCanada.en
dc.titleAre Canadian households financially distressed? A disaggregated analysis
dc.typemaster report
oaire.license.conditionother
thesis.degree.disciplineEconomics
thesis.degree.grantorUniversity of New Brunswick
thesis.degree.levelmasters
thesis.degree.nameM.A.

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