Eesti Pank and Statistics Estonia are organising research into the financial behaviour and consumption habits of Estonian households
From 6 March until 30 June, Eesti Pank and Statistics Estonia will be carrying out research in order to collect information on the assets, liabilities, income and expenses of Estonian households. The survey is being run by the central banks of all the euro area countries in 2017 and is coordinated by the European Central Bank.
The Household Finance and Consumption Survey (HFCS) is carried out regularly every three years in the countries of the euro area, and Estonia is participating for the second time. The research aims to collect internationally comparable data from all the euro area countries. Central banks use the data in their economic policy analysis, for assessing the impact of monetary policy, analysing financial stability and payment systems, and much more.
From 2017 the survey is being run in a panel format, which means that households that have previously participated in the survey will be contacted again. At the same time, new members will be chosen at random for the sample, meaning that every Estonian resident has an equal chance of being selected. In total, 3600 households will be invited to participate in the survey. The interviews for the survey will be carried out face to face, but the data will be collected and processed only in generalised and anonymised form. Statistics Estonia and Eesti Pank ensure that the data of survey participants are protected and protect the anonymity of the participants.
The questions are presented in two groups, firstly questions on the household as a whole, and then questions for each individual member of the household. The questions in the survey on the household as a whole are answered by the person who knows the family finances best, and the individual questions are answered by household members aged 16 and over.
The results of the survey will be published in 2019.
The survey was run in Estonia for the first time in 2013. The results of the survey in Estonia will appear on the Eesti Pank website.