Alfonso Arellano is Senior Economist in the Financial Systems Unit at BBVA Research. He is also part-time associate professor at Complutense University of Madrid.Previous to this position, Alfonso Arellano worked as post-doctoral researcher at the Foundation for Applied Economics (FEDEA) and visiting professor at the University of Alicante.He obtained the B.A. in Economics at Complutense University, the Master in Economics and Management at University Pompeu Fabra and completed the Ph. D. in Economics at University Carlos III.His research interests include microeconometrics, applied econometrics and labor economics. His current research also focuses on digital economy and financial literacy, among others.
The essential lockdown measures and cessation of economic activity imposed by governments to controlCOVID-19 will have a negative impact on the economy as a whole and, in particular, on households.
Financial vulnerability refers to the ability of individuals or households to cope with a shock involving the loss of the main source of income. We establish the degree of financial vulnerability of Spanish households in three categories: highly vulnerable, vulnerable, and secure.
The ability to cope with financial shocks from one's own resources is called financial vulnerability. It is measured as the period of time that individuals can survive by covering their needs if they lose their main source of income and without using credit.