A note on households’ choice of emergency finance

Worthington, Andrew C. (2005) A note on households’ choice of emergency finance. Economics Bulletin, 4(5), pp. 1-7.

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This note examines demographic and socioeconomic characteristics as predictors of emergency finance in Australian households. The data is from the Household Expenditure Survey Confidentialised Unit Record Files and relates to 6,892 households. Emergency finance is defined as the ability to raise $2,000 within a week and its potential sources include own savings, loans from deposit−talking institutions, finance companies, credit cards, family and friends, welfare or community organisations and selling household assets. Characteristics examined included family structure, household income, age, sex and marital status, ethnic background and housing value. Multinomial logistic models indicate income, housing value and status are key factors influencing the ability to raise emergency finance. The model is more accurate predicting the inability to raise emergency finance and emergency finance sourced from own savings and deposit−taking institutions.

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ID Code: 1679
Item Type: Journal Article
Refereed: Yes
Additional URLs:
Keywords: emergency finance, households
ISSN: 1545-2921
Subjects: Australian and New Zealand Standard Research Classification > ECONOMICS (140000)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BANKING FINANCE AND INVESTMENT (150200) > Banking Finance and Investment not elsewhere classified (150299)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Copyright Owner: Copyright 2005 Economics Bulletin
Copyright Statement: The contents of this journal can be freely accessed online via the journal’s web page (see link).
Deposited On: 21 Jun 2005 00:00
Last Modified: 05 Jan 2011 13:25

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