Open Access
Article
SciPap-1812
Comparing Determinants of Household Wealth in CEE Countries: A Quantile Regression Perspective
by
Alena Mojsejova 1,* 
and Alisha Marcinová 2
1 Faculty of Economics, Department of Applied Mathematics and Business Informatics, Technical University of Košice, Němcovej 32, Košice 04001, Slovakia
2 Faculty of Economics, Department of Applied Mathematics and Business Informatics, Technical University of Košice, Němcovej 32, Košice 04001, Slovakia
* Authors to whom correspondence should be addressed.
Abstract: The paper deals with household wealth and its determinants. The attention is drawn to the main causes and determinants which affect wealth and wealth inequality. The comparison between the particular CEE countries is based on the relationship between net wealth and the determinants. The paper emphasizes the impact of the particular determinants on the net wealth of households in Slovakia, Poland, Hungary, and neighboring Austria according to HFCS data. Quantile regression describes an influence of the value of the household's main residence, the value of the household's vehicles, total financial assets, total household gross income, the outstanding balance of mortgage debt, the amount spent on consumer goods and services, substantial inheritance/gift received and gender of the reference person. The results of quantile regression indicate the statistical significance of value of household's main residence as the most significant factor across all observed countries and all quantiles of the population supported by an impact of received inheritance and gifts in the countries apart from Austria. Value of household's vehicles, total financial assets, and outstanding balance of mortgage debt play significant roles. The paper compares the results not only between the countries but also between the determinants, supplementing a picture of the current trends of household wealth in the CEE countries.
Keywords: HFCS, Inequality, Wealth, Cee Countries, Quantile Regression
JEL classification: D14 - Household Saving • Personal Finance, D31 - Personal Income, Wealth, and Their Distributions, P52 - Comparative Studies of Particular Economies
Received: 23 October 2023 / Revised: 7 February 2024 / Accepted: 16 February 2024 / Published: 4 March 2024
