Household wealth in the Czech Republic: A comparative perspective |
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| Affiliation: | 1. Vienna University of Economics and Business, Department of Economics, Austria;2. International Institute for Applied Systems Analysis (IIASA), Austria;3. Austrian Institute of Economic Research (WIFO), Austria;4. Zeppelin University Friedrichshafen, Germany;5. Institute of East and Southeast European Studies (IOS), Regensburg, Germany;6. Institute of Economic Studies (IES), Charles University, Prague, Czech Republic;7. Oesterreichische Nationalbank, Foreign Research Division, Austria;1. CERGE-EI, Charles University and The Czech Academy of Sciences, Politickych veznu 7, 11121 Prague, Czech Republic;2. The William Davidson Institute at the University of Michigan Business School, United States;3. Center for Organizational Dynamics, University of Pennsylvania, United States;4. CEPR, London, United Kingdom;5. CESifo, Munich, Germany;6. IOS, Regensburg, Germany;7. The Euro Area Business Cycle Network, Germany;1. University Haxhi Zeka, Faculty of Business, Eliot Engel, 30000 Peja, Kosovo;2. University of Ljubljana, Faculty of Economics, Kardeljeva ploščad 17, 1000 Ljubljana, Slovenia |
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| Abstract: | This paper focuses on household wealth dynamics in the Czech Republic. We estimate benchmark levels of household financial assets and liabilities on the basis of a comparison with Group of Seven (G-7) countries and compare them with the actual levels. Our results show that a further increase in both assets and liabilities would be justified by economic fundamentals. Furthermore, the G-7 benchmark indicates that both the level and composition of assets will need to change in the Czech Republic in response to the pressures that will arise from an aging population and the expected transfer of risks to households. |
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