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The Wealth Position of Hungarian Households based on HFCS

Author

Listed:
  • Anna Boldizsár

    (Magyar Nemzeti Bank)

  • Zsuzsa Kékesi

    (Magyar Nemzeti Bank)

  • Balázs Kóczián

    (Magyar Nemzeti Bank)

  • Balázs Sisak

    (Magyar Nemzeti Bank)

Abstract

Capturing the unique characteristics of market participants, micro-level statistics have gained significance in recent years, as macro data are not always detailed enough to give sufficient insight into the motivations of households. After the crisis, changes in borrowing attitudes, the subdued improvement in consumption and problems with monthly loan payments focused the attention on micro statistics. This gave rise to widespread demand for a European database on household wealth. Hungary joined the second wave of the survey. Presenting the results of the survey, this article provides a detailed overview of the real and financial wealth of households as well as the distribution and main statistical characteristics of their loans. In addition, we identified the demographic features that influence the saving and borrowing habits of Hungarian households. According to the data obtained, the value of their main residence tends to be the major asset for households: the most frequent motivation behind their saving or borrowing is to acquire or renovate their residential property. Since the majority of households hold a certain size of residential property accordingly, jointly, their net – real and financial – assets can be considered evenly distributed by international standards.

Suggested Citation

  • Anna Boldizsár & Zsuzsa Kékesi & Balázs Kóczián & Balázs Sisak, 2016. "The Wealth Position of Hungarian Households based on HFCS," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 15(4), pages 115-150.
    • Handle: RePEc:mnb:finrev:v:15:y:2016:i:4:p:115-150
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    References listed on IDEAS

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    Cited by:

    1. de Ferra, Sergio & Mitman, Kurt & Romei, Federica, 2020. "Household heterogeneity and the transmission of foreign shocks," Journal of International Economics, Elsevier, vol. 124(C).
    2. Havran, Dániel & Gosztonyi, Márton, 2021. "Karátos likviditásmenedzserek. Az arany ékszerek szerepe a háztartások likviditáskezelésében [Liquidity managers with carats. The role of gold jewellery in the liquidity management of households]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(11), pages 1141-1161.
    3. Eszter Balogh & Zsuzsa Kékesi & Balázs Sisak, 2019. "Analysis of Households’ Investment Decisions Based on International Data," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 18(1), pages 60-87.
    4. Marcin Wroński, 2022. "Household wealth in Central and Eastern Europe Explaining the wealth gap between Poland and Hungary," Bank i Kredyt, Narodowy Bank Polski, vol. 53(5), pages 443-474.
    5. Kacper Grejcz & Zbigniew Żółkiewski, 2017. "Household wealth in Poland: the results of a new survey of household finance," Bank i Kredyt, Narodowy Bank Polski, vol. 48(3), pages 295-326.

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    More about this item

    Keywords

    income; real wealth; financial wealth; loan; savings; financial assets; households;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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