Household Wealth and Finances. Results for Households in Lithuania for 2017
Karolis Bielskis and
Andrius Ciginas ()
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Andrius Ciginas: Vilnius University
No 19, Bank of Lithuania Discussion Paper Series from Bank of Lithuania
This paper reports new data on the household balance sheet and the consumption situation in Lithuania. It uses a unique Household Finance and Consumption Survey (HFCS) dataset, which collects detailed information about different asset classes and outlines the composition of the household balance sheet in Lithuania. At 93.2%, the homeownership rate in Lithuania is the highest in Europe. Real assets correspond to the highest share of households’ wealth and generate a median net wealth of 46 000 €. Lithuanian households participate poorly in financial assets, with only deposits and individual insurance/pensions generating more significant aggregate values. Household participation in debt markets is also limited in Lithuania, with only 11.7% of households having some mortgage-based liabilities. Lithuanian households spend a significant share of their income on food and utilities. This share is among the highest in Europe. A large number of Lithuanian households can be characterized as "hand-to-mouth" households, as they own a significant amount of wealth in illiquid real estate and very little wealth in liquid financial assets.
Keywords: household balance sheet; net wealth; household survey; HFCS (search for similar items in EconPapers)
JEL-codes: D1 D3 (search for similar items in EconPapers)
Pages: 35 pages
New Economics Papers: this item is included in nep-cis and nep-ure
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