Borrowing and Socio-Economic Characteristics of Households: Results of Sample Surveys Carried Out by the Bank of Greece

20 Pages Posted: 20 Jul 2022

See all articles by George T. Simigiannis

George T. Simigiannis

Bank of Greece

Panagiota Tzamourani

Deutsche Bundesbank; European Central Bank (ECB)

Date Written: February 1, 2007

Abstract

This paper uses data from two household surveys conducted by the Bank of Greece in 2002 and 2005 and examines how various socio-economic characteristics of households, such as size, income and wealth, the age, education level and tenure of employment of the head, the number of members in employment and the degree of urbanisation of the place of residence are related to the probability of having a loan, the level of indebtedness, the distribution of the debt service cost to income ratio and also the non-servicing of loans. Most of the characteristics examined were found to be associated with the household’s probability of having a loan. The level of indebtedness was found to be positively correlated with household income and wealth and also associated with the age of the household head. Finally, certain household characteristics were also found to affect capacity to service debt obligations properly.

Keywords: household survey, household debt

JEL Classification: D12

Suggested Citation

Simigiannis, George T. and Tzamourani, Panagiota, Borrowing and Socio-Economic Characteristics of Households: Results of Sample Surveys Carried Out by the Bank of Greece (February 1, 2007). Bank of Greece Economic Bulletin, Issue 28, Article 2, Available at SSRN: https://ssrn.com/abstract=4165408

George T. Simigiannis (Contact Author)

Bank of Greece ( email )

21 E. Venizelos Avenue
GR-10250 Athens
Greece

Panagiota Tzamourani

Deutsche Bundesbank ( email )

Wilhelm-Epstein-Str. 14
Frankfurt/Main, 60431
Germany

European Central Bank (ECB) ( email )

Sonnemannstrasse 22
Frankfurt am Main, 60314
Germany

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