Assets and Debts of Cyprus Households: Changes Between the 1999 and 2002
Cyprus Surveys of Consumer Finances
Download Document| Date Published | 2004 |
| Version | |
| Primary Author | George Antoniou |
| Other Authors | Christiana Argyridou, Michael Haliassos, Alex Karagrigoriou, George Kyriacou, Michalis C. Michael, Maria Papagheorgiou, George Syrichas |
| Theme | |
| Country | Cyprus |
Abstract
This paper describes participation of Cyprus households in various assets and debts using data from the first (1999) and second (2002) Cyprus Surveys of Consumer Finances. It complements our previous papers that separately described household participation in various types of assets (Haliassos et al., 2001) and of debts (Haliassos et al., 2003). We consider a wide range of assets, both financial and real, risky and relatively riskless. Debts considered encompass personal unsecured loans, including credit card debt, and loans secured by housing collateral, mainly mortgage debt. Findings are of considerable policy interest, as they show how various demographic groups changed their participation and exposure to various assets and loans between 1999, when the unparalleled stock market boom took place and 2002, following the burst of the stock market bubble.