Insights into Latvian Household Finance and Consumption Survey

The Latvian Household Finance and Consumption Survey gathers micro-level structural data on households' assets, liabilities, economic decisions, demographics, employment, and more. This joint project includes 18 European countries and involves sampling, data collection, editing, and imputation at the country level. Latvia's participation since 2014 includes a sample size of 1200-1250 households, with data collected using CAPI and questionnaires in Latvian, Russian, and English. The survey integrates administrative data sources for a comprehensive analysis of household finances.

• Latvian
• Household Finance
• Survey Statistics
• Euro Area
• Administrative Data

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1. Use of Register Data in Latvian Household Finance and Consumption Survey Andris Fisenko and J nis Lapi Workshop of the Baltic-Nordic-Ukrainian Network on Survey Statistics 2018

2. Outline 1.About the HFCS 2.Additional data sources 3.Some results 4.References 2

3. About the HFCS The main aim of the HFCS is to gather micro-level structural information on euro area households' assets and liabilities The survey also collects other information in order to analyse the economic decisions taken by households: Person level data (demographics, employment, pensions and insurance policies, person level income) Household level data (real assets and their financing, other liabilities and credit constraints, private businesses and financial assets, household level income, gifts and inheritances received, consumption) 3

4. About the HFCS Joint project (1st wave 15 countries; 2nd wave 18 EA countries + HU, PL; 3rd wave all EA countries + HU, PL) Sampling, data collection, editing, imputation done at country level Probability sample design Oversampling of wealthy HHs Harmonized output (i.e. survey data), but not necessarily identical questionnaires commonly agreed set of standardised output variables harmonised methodology for coding the variables multiple imputation for item non-responses 4

5. About the Latvian HFCS Latvia participates since 2014 (second wave) Joint project of the Bank of Latvia and the Central Statistical Bureau of Latvia Sample size 1200-1250 households CAPI, Questionnaire (in Latvian, Russian, English) ECB questions related to the 1st and 2nd pension scheme not included in the Latvian HFCS_2017 Use of administrative data 5

6. ADMINISTRATIVE DATA SOURCES State Revenue Service (SRS) data on all type of persons' income in 2016 and data on persons' participation in the voluntary (third level) pension schemes' Land Cadastre's data on real estate properties that belong to the household members Credit Register data on persons' mortgages, loans and/or leasing contracts The State Social Insurance Agency data on persons' participation in the first and second level pension plans 6

7. First results Income received (HFCS data) "Did you receive income in 2016?" - Number of cases No answer Don't know 2 1 0 2 0 Yes No Total 2 364 2 364 2 364 2 364 2 364 Employee income Self-employment income Income from public pensions Income from private and occupational pension plans Income from unemployment benefits 1 2 2 5 0 1 361 157 798 1 000 2 204 1 564 2 334 2 317 23 47 "Did you receive income in 2016?" - Percent of cases No answer Don't know 0.08% 0.04% 0.00% 0.08% 0.00% Yes 57.57% 6.64% 33.76% 0.97% 1.99% No 42.30% 93.23% 66.16% 98.73% 98.01% Total 100.00% 100.00% 100.00% 100.00% 100.00% Employee income Self-employment income Income from public pensions Income from private and occupational pension plans 0.04% 0.08% 0.08% 0.21% 0.00% Income from unemployment benefits 7

8. Income received (weighted HFCS data) "Did you receive income in 2016?" - Weighted number of cases No answer Don't know 829 469 0 1 291 0 Yes 853 195 87 467 496 897 9 753 35 031 No 746 847 1 512 739 1 103 282 1 588 338 1 566 022 Total 1 601 051 1 601 052 1 601 051 1 601 052 1 601 052 Employee income Self-employment income Income from public pensions Income from private and occupational pension plans Income from unemployment benefits 180 376 872 1 669 0 "Did you receive income in 2016?" - Weighted percent of cases No answer Don't know 0.05% 0.03% 0.00% 0.08% 0.00% Yes 53.29% 5.46% 31.04% 0.61% 2.19% No 46.65% 94.48% 68.91% 99.21% 97.81% Total 100.00% 100.00% 100.00% 100.00% 100.00% Employee income Self-employment income Income from public pensions Income from private and occupational pension plans 0.01% 0.02% 0.05% 0.10% 0.00% Income from unemployment benefits 8

9. Amount of employee income (HFCS data) Weighted number of cases 240 513 546 250 66 433 746 847 Number of cases Gross amount 4 682 454 2 296 945 907 0 0 0 0 0 Weighted gross amount Gross cash employee income Income reported Don't know No answer Question not asked (No income) 422 825 114 1 000 0 0 0 0 0 Question not asked (Don't know) Question not asked (No answer) 1 2 180 829 9

10. Amount of employee income (edited data) Income received Amount of income received Number of cases Total amount of income Weighted total amount of income HFCS Edited HFCS Edited Unweighted Weighted 2 1 172 250 620 15 190 105 8 1 133 867 2 364 HFCS Edited HFCS Edited 10 116 636 No answer Yes Don't know Don't know Yes Yes Yes Yes Yes Yes Yes Yes No No Total Not asked Not asked Survey value Survey value Survey value Admin. data Don't know Don't know Don't know No answer No answer No answer Not asked Not asked Admin. data Not asked 829 180 0 0 25 105 0 0 0 0 Yes Yes Yes Yes Yes Yes Yes Yes Yes No 126 822 113 691 375 822 14 244 156 184 59 304 6 946 1 772 754 2 909 700 1 772 753 3 915 458 7 552 412 1 097 188 372 1 199 757 535 1 097 188 256 1 578 667 642 3 692 525 870 Admin. data Don't know Edited value Admin. data Don't know Edited value Admin. data Not asked 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 446 952 1 290 510 1 069 266 169 648 826 204 0 0 183 600 109 744 75 902 670 945 1 601 052 506 201 204 510 448 0 0 4 682 454 16 509 991 2 296 945 907 8 301 210 969 10

11. Amount of employee income (edited data) Income received Amount of income received Number of cases Total amount of income Weighted total amount of income HFCS Edited HFCS Edited Unweighted Weighted 2 1 172 250 620 15 190 105 8 1 133 867 2 364 HFCS Edited HFCS Edited 10 116 636 No answer Yes Don't know Don't know Yes Yes Yes Yes Yes Yes Yes Yes No No Total Not asked Not asked Survey value Survey value Survey value Admin. data Don't know Don't know Don't know No answer No answer No answer Not asked Not asked Admin. data Not asked 829 180 0 0 25 105 0 0 0 0 Yes Yes Yes Yes Yes Yes Yes Yes Yes No 126 822 113 691 375 822 14 244 156 184 59 304 6 946 1 772 754 2 909 700 1 772 753 3 915 458 7 552 412 1 097 188 372 1 199 757 535 1 097 188 256 1 578 667 642 3 692 525 870 Admin. data Don't know Edited value Admin. data Don't know Edited value Admin. data Not asked 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 446 952 1 290 510 1 069 266 169 648 826 204 0 0 183 600 109 744 75 902 670 945 1 601 052 506 201 204 510 448 0 0 4 682 454 16 509 991 2 296 945 907 8 301 210 969 11

12. Self-employment income (HFCS data) Weighted number of cases Number of cases Gross amount Weighted gross amount 168 404 396 Gross self-employment income Income reported Don't know No answer Question not asked (No income) 48 89 20 26 496 47 898 13 072 1 512 739 432 735 0 0 0 0 0 0 0 0 0 0 2 204 Question not asked (Don't know) Question not asked (No answer) 2 1 376 469 12

13. Self-employment income (edited data) Income received Amount of income received Number of cases Total amount of income Weighted total amount of income HFCS Edited HFCS Edited Unweighted Weighted 1 1 1 28 20 30 14 45 9 11 380 1 824 2 364 HFCS Edited HFCS Edited No answer No answer Don't know Don't know Don't know Yes Yes Yes Yes Yes Yes Yes Yes No No Total Not asked Not asked Not asked Survey value Survey value Survey value Admin. data Don't know Don't know Don't know No answer No answer Not asked Not asked Not asked Not asked Admin. data 469 232 144 0 0 0 0 0 0 0 0 0 0 12 546 273 772 157 252 323 620 1 804 588 137 442 557 79 827 136 78 827 320 Yes Yes Yes Yes Yes Yes Yes Yes No 17 331 9 165 12 683 4 647 30 568 5 350 7 722 171 272 1 341 467 1 601 050 226 287 206 448 126 439 134 41 965 262 Admin. data Don't know Edited value Admin. data No answer Admin. data Not asked 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 250 530 11 051 171 665 591 9 282 750 0 0 584 299 197 691 969 0 0 432 735 1 613 070 168 404 396 676 541 911 13

14. Self-employment income (edited data) Income received Amount of income received Number of cases Total amount of income Weighted total amount of income HFCS Edited HFCS Edited Unweighted Weighted 1 1 1 28 20 30 14 45 9 11 380 1 824 2 364 HFCS Edited HFCS Edited No answer No answer Don't know Don't know Don't know Yes Yes Yes Yes Yes Yes Yes Yes No No Total Not asked Not asked Not asked Survey value Survey value Survey value Admin. data Don't know Don't know Don't know No answer No answer Not asked Not asked Not asked Not asked Admin. data 469 232 144 0 0 0 0 0 0 0 0 0 0 12 546 273 772 157 252 323 620 1 804 588 137 442 557 79 827 136 78 827 320 Yes Yes Yes Yes Yes Yes Yes Yes No 17 331 9 165 12 683 4 647 30 568 5 350 7 722 171 272 1 341 467 1 601 050 226 287 206 448 126 439 134 41 965 262 Admin. data Don't know Edited value Admin. data No answer Admin. data Not asked 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 250 530 11 051 171 665 591 9 282 750 0 0 584 299 197 691 969 0 0 432 735 1 613 070 168 404 396 676 541 911 14

15. Household level income received (HFCS) "Did you receive income in 2016?" - Number of cases No answer Don't know 0 1 0 0 0 Yes No Total Income from public transfers Income from real estate property Income from financial investments Income from private business Income from other income sources 0 0 2 1 0 138 45 11 32 1111 1203 1236 1216 1241 1249 1249 1249 1249 1249 8 "Did you receive income in 2016?" - Percent of cases No answer Don't know 0.00% 0.08% 0.00% 0.00% 0.00% Yes 11.05% 3.60% 0.88% 2.56% 0.64% No 88.95% 96.32% 98.96% 97.36% 99.36% Total 100.00% 100.00% 100.00% 100.00% 100.00% Income from public transfers Income from real estate property Income from financial investments Income from private business Income from other income sources 0.00% 0.00% 0.16% 0.08% 0.00% 15

16. Income from public transfers Weighted number of cases Number of cases Gross amount Weighted gross amount 27 842 139 Income from public transfers Income reported Don't know No answer Interviewer mistake Question not asked (No income) 39 94 4 1 32 004 82 875 3 857 402 717 671 836 809 37 645 0 0 0 0 0 0 0 0 1 111 1 249 Total 37 645 27 842 139 16

17. Income from public transfers (edited) Income received Amount of income received Number of cases Total amount of income Weighted total amount of income HFCS Yes Yes Yes Yes Yes Yes Yes No No Total Edited Yes Yes Yes Yes Yes Yes Yes Yes No HFCS Edited Unweighted Weighted 24 15 58 2 34 4 1 451 660 1 249 HFCS 26 223 11 422 Edited HFCS 25 172 478 2 669 661 Edited 25 172 478 5 610 561 128 338 773 Survey value Survey value Don't know Don't know Don't know No answer Interv.mistake Admin. data Not asked Not asked Survey value Admin. data Admin. data Don't know Edited value Admin. data 27 376 4 628 39 465 1 656 41 754 3 857 402 284 987 432 684 836 809 26 223 19 252 148 431 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 40 016 1 854 2 598 766 270 37 916 195 1 651 184 1 043 859 406 347 767 Admin. data Not asked 0 0 37 645 1 004 644 27 842 139 606 080 817 17

18. Income from public transfers (edited) Income received Amount of income received Number of cases Total amount of income Weighted total amount of income HFCS Yes Yes Yes Yes Yes Yes Yes No No Total Edited Yes Yes Yes Yes Yes Yes Yes Yes No HFCS Edited Unweighted Weighted 24 15 58 2 34 4 1 451 660 1 249 HFCS 26 223 11 422 Edited HFCS 25 172 478 2 669 661 Edited 25 172 478 5 610 561 128 338 773 Survey value Survey value Don't know Don't know Don't know No answer Interv.mistake Admin. data Not asked Not asked Survey value Admin. data Admin. data Don't know Edited value Admin. data 27 376 4 628 39 465 1 656 41 754 3 857 402 284 987 432 684 836 809 26 223 19 252 148 431 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 40 016 1 854 2 598 766 270 37 916 195 1 651 184 1 043 859 406 347 767 Admin. data Not asked 0 0 37 645 1 004 644 27 842 139 606 080 817 18

19. Income from real estate properties Weighte d number Number of cases Gross amount Weighted gross amount Income from real estate property Question not asked (No answer) Income reported Don't know No answer Interviewer mistake 0 0 1 349 2 738 16 182 4 096 175 813 270 836 810 11 28 5 1 38 840 11 383 068 0 0 0 0 0 0 0 0 Question not asked (No income) Total 1 203 1 249 38 840 11 383 068 19

20. Income from real estate properties (edited) Income received Amount of income received Number of cases Total amount of income Weighted total amount of income HFCS Edited HFCS Edited Unweighted Weighted 1 9 1 5 9 13 5 1 1 1 30 1 173 1 249 HFCS Edited HFCS Edited Don't know Don't know Not asked Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No Yes No No Yes No No Total Not asked Survey value Admin. data Admin. data Don't know Edited value No answer 349 2 398 0 0 0 0 Survey value Survey value Don't know Don't know Don't know No answer Interv.mistake Interv.mistake Survey value Don't know Not asked Not asked 38 490 350 38 490 455 19 357 11 349 285 33 783 11 349 285 43 918 6 263 449 97 1 300 3 828 10 834 4 096 175 243 220 8 798 804 472 836 810 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 18 186 7 985 300 0 0 0 0 0 0 0 0 Not asked Not asked Admin. data Not asked 46 000 8 625 350 0 0 38 840 122 488 11 383 068 34 267 302 20

21. Income from real estate properties (edited) Income received Amount of income received Number of cases Total amount of income Weighted total amount of income HFCS Edited HFCS Edited Unweighted Weighted 1 9 1 5 9 13 5 1 1 1 30 1 173 1 249 HFCS Edited HFCS Edited Don't know Don't know Not asked Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No Yes No No Yes No No Total Not asked Survey value Admin. data Admin. data Don't know Edited value No answer 349 2 398 0 0 0 0 Survey value Survey value Don't know Don't know Don't know No answer Interv.mistake Interv.mistake Survey value Don't know Not asked Not asked 38 490 350 38 490 455 19 357 11 349 285 33 783 11 349 285 43 918 6 263 449 97 1 300 3 828 10 834 4 096 175 243 220 8 798 804 472 836 810 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 18 186 7 985 300 0 0 0 0 0 0 0 0 Not asked Not asked Admin. data Not asked 46 000 8 625 350 0 0 38 840 122 488 11 383 068 34 267 302 21

22. Participation in the 3-rd level pension plans Total value of Pension plans, EUR Number of Pension plans 500 400,000,000 450 400 350,000,000 350 300,000,000 300 250,000,000 250 200,000,000 200 150,000,000 150 100,000,000 100 50,000,000 50 0 0 YES Don't knowNo answer Edited HFCS Edited 22

23. First and second level pension plans Experience from the second wave: Many respondents don't know if they are participants of the pension scheme Only few respondents know current balance of their pension plan account(s) Data obtained from SSIA (participation, annual contribution, current value of pension plan) No imputation needed 23

24. References Household Finance and Consumption Network (2016) The Household Finance and Consumption Survey: methodological report for the second wave. ECB Statistical Paper Series, 17. https://www.ecb.europa.eu/pub/economic- research/research- networks/html/researcher_hfcn.en.html https://www.bank.lv/en/statistics/hfcs/tables 24

25. THANK YOU! 25