Household Debt in the Czech Republic: Focus on Mortgage Amount Determinants
| Název práce v češtině: | Spotřebitelský dluh v České republice: Zaměření na determinanty výše hypotéky |
|---|---|
| Název v anglickém jazyce: | Household Debt in the Czech Republic: Focus on Mortgage Amount Determinants |
| Klíčová slova: | hypoteční úvěry, osobní charakteristika, dluh domácností, Česká republika |
| Klíčová slova anglicky: | mortgage loans, personal characteristics, household debt, Czech Republic |
| Akademický rok vypsání: | 2014/2015 |
| Typ práce: | bakalářská práce |
| Jazyk práce: | angličtina |
| Ústav: | Institut ekonomických studií (23-IES) |
| Vedoucí / školitel: | doc. Ing. Tomáš Cahlík, CSc. |
| Řešitel: | skrytý - zadáno vedoucím/školitelem |
| Datum přihlášení: | 16.04.2015 |
| Datum zadání: | 16.04.2015 |
| Datum a čas obhajoby: | 15.06.2016 08:00 |
| Místo konání obhajoby: | IES, m 314 |
| Datum odevzdání elektronické podoby: | 10.05.2016 |
| Datum proběhlé obhajoby: | 15.06.2016 |
| Oponenti: | PhDr. Mgr. Michael Princ |
| Kontrola URKUND: | |
| Zásady pro vypracování |
| In the case you are interested in this topic, write me an e-mail or come in my office hours. You can choose another country as well (eg. your home country). |
| Seznam odborné literatury |
| BIČÁKOVÁ, Alena; PRELCOVÁ, Zuzana; PAŠALIČOVÁ, Renata. Who Borrows and Who May Not Repay?. CERGE-EI Working Paper Series, 2011, 443.
CAMERON, A. Colin; TRIVEDI, Pravin K. Microeconometrics: methods and applications. Cambridge university press, 2005. COULIBALY, Brahima; LI, Geng. Choice of mortgage contracts: evidence from the survey of consumer finances. Real Estate Economics, 2009, 37.4: 659-673. FARINHA, Luísa. The effect of demographic and socioeconomic factors on households’ indebtedness. Banco de Portugal Economic Bulletin, 2003. HULLGREN, Maria; SÖDERBERG, Inga-Lill. The relationship between consumer characteristics and mortgage preferences: a case study from Sweden. International Journal of Housing Markets and Analysis, 2013, 6.2: 209-230. KEMPSON, Elaine; MCKAY, Stephen; WILLITTS, Maxine. Characteristics of families in debt and the nature of indebtedness. Corporate Document Services, 2004. WOOLDRIDGE, Jeffrey. Introductory econometrics: A modern approach. Nelson Education, 2015. |
| Předběžná náplň práce |
| Motivation
Household debt has been rising in many countries which led to more attention paid to this issue as its sustainability can be problematic in the future. In the Czech Republic, the increase in household debt is mainly the result of growing number of mortgage loans. Since loans for housing needs are considerably higher compared to consumer credits, they usually account for the highest amount a person has to repay. Therefore, I focus on mortgage loans since their growth has been the most significant relative to other loan types. The aim of this thesis is to analyse how personal characteristics influence the amount people decide to borrow in order to buy or construct a house. For this purpose, a random sample of ČSOB clients who have taken out a mortgage is examined in order to determine which characteristics have a significant effect on the amount borrowed. Hypotheses #1: People with higher income borrow higher amounts. #2: Men borrow higher amounts than women. #3: A person's age is a significant factor influencing the amount borrowed. #4: People who have obtained a university degree borrow higher amounts compared to people with primary or secondary education. #5: People living in Prague borrow higher amounts compared to people living outside Prague. Methodology In order to examine the effect of particular personal characteristics, a multiple regression analysis is performed. Several regression models are constructed and estimated by OLS or LAD. Furthermore, quantile regression is performed so that it is possible to determine whether the estimated effects vary across the distribution. Outline 1. Introduction 2. Literature Review 3. Data Description 4. Econometric Analysis 5. Discussion of Results 6. Conclusion |
| Předběžná náplň práce v anglickém jazyce |
| Motivation
Household debt has been rising in many countries which led to more attention paid to this issue as its sustainability can be problematic in the future. In the Czech Republic, the increase in household debt is mainly the result of growing number of mortgage loans. Since loans for housing needs are considerably higher compared to consumer credits, they usually account for the highest amount a person has to repay. Therefore, I focus on mortgage loans since their growth has been the most significant relative to other loan types. The aim of this thesis is to analyse how personal characteristics influence the amount people decide to borrow in order to buy or construct a house. For this purpose, a random sample of ČSOB clients who have taken out a mortgage is examined in order to determine which characteristics have a significant effect on the amount borrowed. Hypotheses #1: People with higher income borrow higher amounts. #2: Men borrow higher amounts than women. #3: A person's age is a significant factor influencing the amount borrowed. #4: People who have obtained a university degree borrow higher amounts compared to people with primary or secondary education. #5: People living in Prague borrow higher amounts compared to people living outside Prague. Methodology In order to examine the effect of particular personal characteristics, a multiple regression analysis is performed. Several regression models are constructed and estimated by OLS or LAD. Furthermore, quantile regression is performed so that it is possible to determine whether the estimated effects vary across the distribution. Outline 1. Introduction 2. Literature Review 3. Data Description 4. Econometric Analysis 5. Discussion of Results 6. Conclusion |