Kadri Lenk "Determinants of Bank Deposits of Households in Estonia" (BeWise ja AS Balti Kell Üliõpilastööde konkursi finaaltöö)
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Kadri Lenk "Determinants of Bank Deposits of Households in Estonia" (BeWise ja AS Balti Kell Üliõpilastööde konkursi finaaltöö)
- 1. Determinants of Bank Deposits of Households in Estonia Kadri Lenk, 26.11.2013
- 2. Household's stock of deposit and interest rates 2000 - present 5.0% 6000 4.5% 5000 4.0% 3.5% 4000 3.0% 2.5% 3000 2.0% 2000 1.5% 1.0% 1000 0.5% 0.0% 0 Stock of deposit Average deposit interest rate
- 3. What motivates households to deposit?
- 4. Variables Interest rates Consumer confidence indicator Unemployment Monthly gross salary Inflation Stock of housing loans and consumer credits Dummy variable
- 5. Methodology Regression analysis Three time periods 2001 – 2012 2001 – 2009 2009 – 2012 Do the variables appear with a lag? Time and demand deposits analysed separately
- 6. Results
- 7. Conclusions Interest rates don’t interest Unemployment reflects uncertainty In uncertain times, households save Inflation effect comes with 4-6 month lag Dummy variable affects demand deposits Negative effect on time deposits Positive effect on demand deposits Higher salary = higher saving Loans and saving’s relation changed over time Positive correlation before 2009 Negative correlation after 2009
- 8. Thanks!