In: Ekonomický časopis/Journal of Economics, vol. 73, no. 7-8
Erik GOGOLA 
- Erika PASTORÁKOVÁ - Patrícia KRUPOVÁ
- Erika PASTORÁKOVÁ - Patrícia KRUPOVÁ Detaily:
Strany: 301 - 323
Jazyk: eng
Kľúčové slová:
household indebtedness in Slovakia, socio-demographic and economic fac-tors, life-cycle hypothesis, logistic regression, HFCS;
JEL Classification: C25, D10, D14, D15, G51
Typ článku: Vedecký článok / Article
Typ dokumentu: PDF / PDF
O článku:
In recent years, the low-interest rate environment combined with a positive macroeconomic outlook has led to a significant increase in the indebtedness of Slovak households. Analysing data from multiple waves of the Slovak Household Finance and Consumption Survey (HFCS), the paper investigates the impact of various socio-demographic and economic factors on the use of secured and unsecured debt by Slovak households by employing logistic regression. The results of the study indicate that age has a statistically significant and negative impact on the probability of having a mortgage debt. On the contrary, the number of dependent children and gross wealth have a statistically significant and positive impact on the probability of indebted households having a mortgage debt. The findings are consistent with the life-cycle hypothesis, highlighting age as a significant factor in shaping individuals’ engagement in the debt market. Moreover, our study shows that relatively high debt levels can be observed among the older indebted households in the last two waves of the HFCS. The high indebtedness among retired households may raise concerns about their social and financial stability.
In recent years, the low-interest rate environment combined with a positive macroeconomic outlook has led to a significant increase in the indebtedness of Slovak households. Analysing data from multiple waves of the Slovak Household Finance and Consumption Survey (HFCS), the paper investigates the impact of various socio-demographic and economic factors on the use of secured and unsecured debt by Slovak households by employing logistic regression. The results of the study indicate that age has a statistically significant and negative impact on the probability of having a mortgage debt. On the contrary, the number of dependent children and gross wealth have a statistically significant and positive impact on the probability of indebted households having a mortgage debt. The findings are consistent with the life-cycle hypothesis, highlighting age as a significant factor in shaping individuals’ engagement in the debt market. Moreover, our study shows that relatively high debt levels can be observed among the older indebted households in the last two waves of the HFCS. The high indebtedness among retired households may raise concerns about their social and financial stability.
Ako citovať:
ISO 690:
GOGOLA, E., PASTORÁKOVÁ, E., KRUPOVÁ, P. 2025. The Impact of Socio-Demographic and Economic Factors on Household Indebtedness in Slovakia – a Microeconomic Analysis. In Ekonomický časopis/Journal of Economics, vol. 73, no.7-8, pp. 301-323. 0013-3035. DOI: https://doi.org/10.31577/ekoncas.2025.07-08.02
APA:
GOGOLA, E., PASTORÁKOVÁ, E., KRUPOVÁ, P. (2025). The Impact of Socio-Demographic and Economic Factors on Household Indebtedness in Slovakia – a Microeconomic Analysis. Ekonomický časopis/Journal of Economics, 73(7-8), 301-323. 0013-3035. DOI: https://doi.org/10.31577/ekoncas.2025.07-08.02
O vydaní:
Vydavateľ: Ekonomický ústav SAV, v.v.i. / Institute of Economic Research SAS
Publikované: 31. 10. 2025