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Distribution of household assets in Croatia

Author

Listed:
  • Marina Kunovac

    (Croatian National Bank, Zagreb, Croatia)

Abstract

This paper analyses the main components and distribution of household net assets in Croatia on the basis of the data from the Household Finance and Consumption Survey (HFCS) by taking into account different socio-demographic characteristics of households. The main results indicate that real assets are widely distributed among households, whereby 85% of households own the household main residence. Financial assets and liabilities account for larger share among wealthier households. The analysis of the main determinants establishing the position of an individual household in distribution of assets has additionally highlighted the importance of the household main residence (HMR). Households with inherited HMR are less likely to be positioned in the lowest net asset quintile. In addition, households with HMR in the city of Zagreb or on the Adriatic Coast are more likely to be in higher asset quintile groups. The survey has also found that the level of household income, educational attainment, labour market status and age of the household reference person affect the probability of positioning a household in a certain net asset quintile.

Suggested Citation

  • Marina Kunovac, 2020. "Distribution of household assets in Croatia," Public Sector Economics, Institute of Public Finance, vol. 44(3), pages 265-297.
    • Handle: RePEc:ipf:psejou:v:44:y:2020:i:3:p:265-297
    DOI: 10.3326/pse.44.3.1
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    References listed on IDEAS

    as
    1. Carpantier, Jean-Francois & Olivera, Javier & Van Kerm, Philippe, 2018. "Macroprudential policy and household wealth inequality," Journal of International Money and Finance, Elsevier, vol. 85(C), pages 262-277.
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    3. Thomas Blanchet & Ignacio Flores & Marc Morgan, 2022. "The weight of the rich: improving surveys using tax data," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 20(1), pages 119-150, March.
    4. Luc Arrondel & Muriel Roger & Frédérique Savignac, 2014. "Wealth and Income in the Euro Area: Heterogeneity in Households Behaviours?," Working papers 497, Banque de France.
    Full references (including those not matched with items on IDEAS)

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    Keywords

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    JEL classification:

    • D1 - Microeconomics - - Household Behavior
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions

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