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Are indebted households poorer? Evidence from Slovakia

Author

Listed:
  • Tibor Zavadil

    (National Bank of Slovakia, Research Department)

  • Teresa Messner

    (Institute of Economic and Cultural Geography, Leibniz Universität, Hannover)

Abstract

This paper analyses the impact of household indebtedness on household net wealth, using Slovak data from the first wave of the Household Finance and Consumption Survey. We find two different effects of household indebtedness on wealth – a highly negative impact of non-mortgage debt and a neutral effect of mortgage debt. Furthermore, we find that households living in bigger municipalities and more developed regions are both wealthier and more indebted. Finally, we ascertain that household wealth is mainly determined by income, home ownership, inheritance, household composition, the characteristics of household head, and regional demographic and economic conditions.

Suggested Citation

  • Tibor Zavadil & Teresa Messner, 2015. "Are indebted households poorer? Evidence from Slovakia," Working and Discussion Papers WP 2/2015, Research Department, National Bank of Slovakia.
    • Handle: RePEc:svk:wpaper:1032
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    Citations

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    Cited by:

    1. Simona Malovaná & Michal Hlavácek & Kamil Galušcák, 2017. "Stress testing the Czech household sector using microdata - practical applications in the policy-making process," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Data needs and Statistics compilation for macroprudential analysis, volume 46, Bank for International Settlements.
    2. Simona Malovaná & Michal Hlaváček & Kamil Galuščák, 2018. "Citlivost českých domácností na úrokový a příjmový šok. Aplikace na mikroúdajích [Sensitivity of Czech Households to Interest Rate and Income Shock. Applications on Microdata]," Politická ekonomie, Prague University of Economics and Business, vol. 2018(5), pages 531-549.

    More about this item

    Keywords

    household net wealth; mortgage and non-mortgage debt; regional analysis;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • R20 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - General

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