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Modelling selected indicators of the financial situation of households in the Czech Republic
[Modelování vybraných ukazatelů o finanční situaci domácností v České republice]

Author

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  • Hana Řezanková

Abstract

The aim of the paper is to estimate models for household classification from the point of view of their financial situation. The models are constructed on the basis of data from the Living Conditions 2010 survey. The target indicators are the possibility of a household to afford a week-long vacancy outside home, the possibility of a household to afford paying an unplanned expenditure in a certain amount, and an evaluation of how a household is economical with its income. The explanatory indicators are the gender of the head of the household (HOH), the education level of the HOH, the marital status of the HOH, the age of the HOH, and the household type according to the OECD classification. For this purpose, classification trees and logistic regression were applied. The models obtained were evaluated according to the total success rate and the F-measure. The education level of the head of the household was found to be the most important indicator for the prediction.

Suggested Citation

  • Hana Řezanková, 2013. "Modelling selected indicators of the financial situation of households in the Czech Republic [Modelování vybraných ukazatelů o finanční situaci domácností v České republice]," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2013(3), pages 32-50.
    • Handle: RePEc:prg:jnlaop:v:2013:y:2013:i:3:id:403:p:32-50
    DOI: 10.18267/j.aop.403
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    More about this item

    Keywords

    Czech households; financial indicator; household classification; classification tree; binary logistic regression; multinomial logistic regression; F-measure;
    All these keywords.

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis
    • D19 - Microeconomics - - Household Behavior - - - Other
    • I39 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Other

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