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Human Capital, Consumption, and Housing Wealth in Transition

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  • Jarko Fidrmuc

    ()
    (Zeppelin University Friedrichshafen, CESifo Munich, Institute for Eastern European Studies, Regensburg, Comenius University Bratislava, and Mendel University in Brno)

  • Matus Senaj

    ()
    (National Bank of Slovakia, Research Department)

Abstract

This paper focuses on human capital and housing in Slovakia during the economic reforms of the last two decades. We compare households that entered the labour market before and after the economic reforms in 1990. On the one hand, we study the returns to education in different labour market cohorts using household consumption surveys. On the other hand, we analyse the determinants of housing wealth and its impact on consumption. We show that old cohorts are characterised by lower returns to human capital and consumption levels, but higher housing wealth. Thus, we do not identify a clear pattern of winners and losers from transition.

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Bibliographic Info

Paper provided by Research Department, National Bank of Slovakia in its series Working and Discussion Papers with number WP 2/2012.

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Length: 29 pages
Date of creation: May 2012
Date of revision:
Handle: RePEc:svk:wpaper:1017

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Keywords: consumption function; housing wealth effect; human capital; survey data;

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Cited by:
  1. Jarko Fidrmuc & Caroline Klein & Robert W.R. Price & Andreas Wörgötter, 2013. "Slovakia: A Catching Up Euro Area Member In and Out of the Crisis," OECD Economics Department Working Papers 1019, OECD Publishing.
  2. Jarko Fidrmuc & Andreas Wörgötter, 2013. "Slovakia: The Consequences of Joining the Euro Aea before the Crisis for a Small Catching-up Economy," CESifo Forum, Ifo Institute for Economic Research at the University of Munich, vol. 14(1), pages 57-63, 05.

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