Language:
Hebrew
Year of publication:
2022
Titel der Quelle:
מחקרי רגולציה. ראשון לציון
Angaben zur Quelle:
ה (תשפב) 247-269
Keywords:
COVID-19 Pandemic, 2020- Cross-cultural studies Economic aspects
;
COVID-19 Pandemic, 2020- Economic aspects
;
Consumer credit Cross-cultural studies
;
Consumer credit
Abstract:
In the wake of the COVID-19 crisis, which has led to reductions and delays ineconomic activity and spikes in unemployment, concerns have been raised about aconsumer debt crisis detrimental to the well-being of households and the stability of theeconomic system. As a result, governments have faced crisis-management conflicts, asreflected in the risks they have chosen to mitigate through regulation. This studyexamines how and why Israeli, U.S., and Swedish policies regarding mortgage debt andcredit scores differed during the COVID-19 crisis; what objectives were sought andwhat principles were applied? The study presents a multidimensional, comparativeanalysis and examines the differences at national and policy levels. The study‘sfindings show that, compared with Sweden, the United States and Israel took strongermeasures to reduce risk in the mortgage and credit scoring systems, although themeasures these two countries took in the credit scoring system were weak andincomplete. Two main conclusions emerge from the article: (1) To manage risk duringa crisis, liberal welfare states depend more on regulation than do social democraticstates, as their markets are more stable and their households therefore have greatereconomic stability; (2) The regulatory state is polymorphic, but is governed by theinterests and views of strong political players who prefer to reduce lenders‘ risks ratherthan borrowers‘ risks.
Note:
With an English abstract.
URL:
אתר את הפרסום בקטלוג המאוחד של ספריות ישראל
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