IDEAS home Printed from https://ideas.repec.org/a/bog/econbl/y2013i38p85-101.html
   My bibliography  Save this article

The Household Finance Survey: description of the 2009 survey and main results on households’ income, wealth and debt in Greece

Author

Listed:
  • Panagiota Tzamourani

    (Bundesbank)

Abstract

The paper presents the methodology and the main results of the Household Finance Survey 2009, which was conducted by the Bank of Greece as part of the first wave of the Eurosystem Household Finance and Consumption Survey (HFCS). According to the survey, the indicators of indebtedness of Greek households in 2009 were slightly lower than the corresponding ones for most of the euro area countries and the indicators of financial pressure were for the majority of households within limits that are considered tolerable. The wealth of Greek households, as captured by the survey in 2009, was composed mainly by real estate. Greece had a high degree of both home ownership and of ownership of other real estate, in comparison with the other countries in the euro area, which could be partly explained by the relative high percentage of gifts and inheritances. With regard to net wealth, despite the lower mean relative to the euro area mean net wealth, the median household in 2009 had net wealth close the median euro area household, a finding that was attributed to the high homeownership rate in Greece and the relative high house prices at the time of the survey.

Suggested Citation

  • Panagiota Tzamourani, 2013. "The Household Finance Survey: description of the 2009 survey and main results on households’ income, wealth and debt in Greece," Economic Bulletin, Bank of Greece, issue 38, pages 85-101, November.
    • Handle: RePEc:bog:econbl:y:2013:i:38:p:85-101
    as

    Download full text from publisher

    File URL: https://www.bankofgreece.gr/BogEkdoseis/econbull201311.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Kyprianos Prodromidis & Prodromos Prodromidis, 2008. "Returns to education: the Greek experience, 1988-1999," Applied Economics, Taylor & Francis Journals, vol. 40(8), pages 1023-1030.
    2. Evangelia Papapetrou, 2007. "Education, labour market and wage differentials in Greece," Economic Bulletin, Bank of Greece, issue 28, pages 51-73, February.
    3. Evangelia Papapetrou, 2008. "Evidence on gender wage differentials in Greece," Economic Change and Restructuring, Springer, vol. 41(2), pages 155-166, June.
    4. Evangelia Papapetrou, 2004. "Gender Wage Differentials in Greece," Economic Bulletin, Bank of Greece, issue 23, pages 47-64, July.
    5. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-838, May.
    6. Psacharopoulos, George, 1982. "Earnings and education in Greece, 1960–1977," European Economic Review, Elsevier, vol. 17(3), pages 333-347.
    7. Patrinos, Harry Anthony, 1995. "Socioeconomic background, schooling, experience, ability and monetary rewards in Greece," Economics of Education Review, Elsevier, vol. 14(1), pages 85-91, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ioannis Cholezas & Nikolaos C Kanellopoulos & Theodoros Mitrakos & Panos Tsakloglou, 2013. "The impact of the current crisis on private returns to education in Greece," Economic Bulletin, Bank of Greece, issue 38, pages 33-63, November.
    2. Evangelia Papapetrou & Dimitrios Bakas, 2013. "The Greek labour market during the crisis: unemployment, employment and labour force participation," Economic Bulletin, Bank of Greece, issue 38, pages 65-83, November.
    3. Evangelia Vourvachaki, 2013. "Structural reform of the road haulage sector," Economic Bulletin, Bank of Greece, issue 38, pages 21-32, November.
    4. Nikos Karabalis & Euripides Kondelis, 2013. "Indirect tax increases and their impact on inflation over 2010 – 2012," Economic Bulletin, Bank of Greece, issue 38, pages 7-19, November.
    5. Theodoros M. Mitrakos & George T. Simigiannis, 2009. "The determinants of Greek household indebtedness and financial stress," Economic Bulletin, Bank of Greece, issue 32, pages 7-26, May.
    6. Sophia Lazaretou, 2014. "The smart economy: cultural and creative industries in Greece: can they be a way out of the crisis?," Economic Bulletin, Bank of Greece, issue 39, pages 73-103, July.
    7. Harry A Patrinos, 2022. "Returns to Education in Greece: Evidence from the 1977 Labor Market Survey using the Greek Civil War as an Instrument," Economics Bulletin, AccessEcon, vol. 42(1), pages 288-293.
    8. Faidon Kalfaoglou, 2014. "European banking union: “Europeanising” banks’ financial safety net," Economic Bulletin, Bank of Greece, issue 39, pages 37-72, July.
    9. Tsakloglou, Panos & Antoninis, Manos, 1999. "On the distributional impact of public education: evidence from Greece," Economics of Education Review, Elsevier, vol. 18(4), pages 439-452, October.
    10. Costas N. Kanellopoulos, 2015. "The effects of minimum wages on wages and employment," Economic Bulletin, Bank of Greece, issue 41, pages 7-29, July.
    11. Nikos Vettas & Ioannis Giotopoulos & Evangelia Valavanioti & Svetoslav Danchev, 2016. "The determinants of new firms’ export performance," Economic Bulletin, Bank of Greece, issue 43, pages 7-17, July.
    12. Christos Papazoglou, 2009. "Is Greece's export performance really low?," Economic Bulletin, Bank of Greece, issue 32, pages 27-37, May.
    13. Christos Papazoglou & Dimitrios Sideris & Orestis Tsagklas, 2016. "Europe as an optimum currency area: the experience of the Baltic countries," Economic Bulletin, Bank of Greece, issue 44, pages 35-46, December.
    14. Konstantina Manou & Evangelia Papapetrou, 2016. "The economic behaviour of households in Greece: recent developments and prospects," Economic Bulletin, Bank of Greece, issue 44, pages 7-33, December.
    15. Theodore Mitrakos & Panos Tsakloglou & Ioannis Cholezas, 2010. "Determining factors of youth unemployment in Greece with emphasis on tertiary education graduates," Economic Bulletin, Bank of Greece, issue 33, pages 21-62, May.
    16. Petros M Migiakis, 2010. "Determinants of the Greek stock-bond correlation," Economic Bulletin, Bank of Greece, issue 33, pages 79-90, May.
    17. Sofia Lazaretou, 2015. "How can the use of historical macroeconomic data series support economic analysis and policy-making? The new Greek macro history database 1833-1949 as part of the large database of Southeastern Europe," Economic Bulletin, Bank of Greece, issue 41, pages 71-101, July.
    18. repec:bog:econbl:y:2016:i:43:p:55-75 is not listed on IDEAS
    19. Costas N. Kanellopoulos, 2014. "The private sector Greek labour market during the crisis," Economic Bulletin, Bank of Greece, issue 39, pages 21-36, July.
    20. repec:bog:econbl:y:2016:i:43:p:19-29 is not listed on IDEAS
    21. Aikaterini Chaireti, 2014. "The housing situation of residents of Greece in the time of crisis 2008-2012," Economic Bulletin, Bank of Greece, issue 39, pages 105-141, July.
    22. Evangelia Georgiou, 2015. "The use of cash and electronic payment instruments in the economy," Economic Bulletin, Bank of Greece, issue 41, pages 31-44, July.

    More about this item

    Keywords

    Household survey; assets; liabilities; wealth; financial pressure;
    All these keywords.

    JEL classification:

    • C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bog:econbl:y:2013:i:38:p:85-101. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Anastasios Rizos (email available below). General contact details of provider: https://edirc.repec.org/data/boggvgr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.