Household Finance and Consumption Survey 2017 in Latvia

Abstract:
This paper presents Latvia's results from the third wave of the Eurosystem's Household Finance and Consumption Survey (HFCS) conducted in 2017. The paper focuses on the wealth components of the household balance sheet – real and financial assets, liabilities, as well as income and consumption. The HFCS questionnaire includes an extensive list of quantitative and qualitative questions; therefore, our paper presents changes in the household balance sheet taking into account both numeric and self-assessment aspects. The results are compared to the HFCS 2014 results in Latvia and the HFCS 2014 and the HFCS 2017 results in the euro area.

Keywords: household finance and consumption survey, Latvia, assets, liabilities, net wealth, financial vulnerability, income, consumption

JEL codes: D14, D31, E21