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Austrian Households’ Financial Wealth: An Analysis Based on Microeconomic Data

Author

Listed:
  • Christian Beer

    (Vienna University of Economics and Business Administration)

  • Peter Mooslechner

    (Oesterreichische Nationalbank)

  • Martin Schürz

    (Oesterreichische Nationalbank, Economic Analysis Division)

  • Karin Wagner

    (Oesterreichische Nationalbank, Economic Analysis Division)

Abstract

Microeconomic data on households are providing increasingly important information for many economic policy issues. This study presents the results of a survey conducted by the Oesterreichische Nationalbank on Austrian households’ financial wealth. The descriptive presentation of household financial wealth also covers data on household debt and investment. Household income is shown to have a significant influence on the level of financial assets. The results of logit estimates and a cluster analysis demonstrate the prominent role of net household income on investment decisions. By far the greatest volume of household financial assets is invested in savings deposits and in deposits made under building loan contracts, but 16% of all households also stated that they owned stocks.

Suggested Citation

  • Christian Beer & Peter Mooslechner & Martin Schürz & Karin Wagner, 2006. "Austrian Households’ Financial Wealth: An Analysis Based on Microeconomic Data," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 2, pages 94-110.
    • Handle: RePEc:onb:oenbmp:y:2006:i:2:b:5
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    File URL: https://www.oenb.at/dam/jcr:a6251b55-e03e-4ec7-9aa4-d90bcdf64a6a/mop_2006_2_05_tcm16-45590.pdf
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    Citations

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    Cited by:

    1. Beer, Christian & Ongena, Steven & Peter, Marcel, 2010. "Borrowing in foreign currency: Austrian households as carry traders," Journal of Banking & Finance, Elsevier, vol. 34(9), pages 2198-2211, September.
    2. Pirmin Fessler & Martin Schürz & Karin Wagner & Beat Weber, 2007. "Financial Capability of Austrian Households," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 3, pages 50-67.

    More about this item

    Keywords

    households’ wealth; portfolio choice; financial assets.;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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