A Driving Force No More: Have Canadian Consumers Reached Their Limits?
AbstractIn 2007, 2009, 2010 and then again in 2011, CGA-Canada set out to analyse the level of debt of Canadians, and to understand the extent to which the financial crisis and economic downturn worsened the financial situation of households, and whether the economic recovery have eased the financial stress. That was done by integrating the results of a public opinion survey commissioned by CGA-Canada with an analysis of available statistical information. The results of the analysis show that the financial condition of the aggregate household sector does not appear to be exceedingly distressful; however, focusing on the aggregate household sector conceals the fact that financial situation of certain groups of households may be much worse than average. Our ability to fully assess the state and level of household indebtedness is limited due to limited availability of data, whereas pan-Canadian perspective does not reflect significant regional differences. As such, the state and the dynamic of the household sector’s balance sheet should remain high on the radar of policy-makers.
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Bibliographic InfoPaper provided by Certified General Accountants Association of Canada in its series Working Papers with number 110604.
Length: 129 pages
Date of creation: Jun 2011
Date of revision:
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Postal: Suite 100, 4200 North Fraser Way, Burnaby, British Columbia V5J 5K7, Canada
Web page: http://www.cga-canada.org
More information through EDIRC
household debt; household finances; savings; wealth; household spending; income shock; ability to pay;
Find related papers by JEL classification:
- D1 - Microeconomics - - Household Behavior
- D14 - Microeconomics - - Household Behavior - - - Personal Finance
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-07-13 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Schellenberg, Grant Ostrovsky, Yuri, 2010. "Retirement-Related Highlights from the 2009 Canadian Financial Capability Survey," Insights on the Canadian Economy 2010026e, Statistics Canada, Economic Analysis Division.
- Thomas A. Mroz & Timothy H. Savage, 2006. "The Long-Term Effects of Youth Unemployment," Journal of Human Resources, University of Wisconsin Press, vol. 41(2).
- Lise Pichette & Dominique Tremblay, 2003.
"Are Wealth Effects Important for Canada?,"
03-30, Bank of Canada.
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