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Household Wealth Distribution in Italy in the 1990s

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  • Andrea Brandolini

    ()
    (Bank of Italy, Economic Research Department)

  • Luigi Cannari

    ()
    (Bank of Italy, Economic Research Department)

  • Giovanni D'Alessio

    ()
    (Bank of Italy, Economic Research Department)

  • Ivan Faiella

    ()
    (Bank of Italy, Economic Research Department)

Abstract

This paper describes the composition and distribution of household wealth in Italy. First, the evolution of household portfolios over the last forty years is described on the basis of newly reconstructed aggregate balance sheets. Second, the characteristics and quality of the main statistical source on wealth distribution, the Bank of ItalyÂ’s Survey of Household Income and Wealth, are examined together with the statistical procedures used to adjust for non-response, non-reporting and under-reporting. The distribution of household net worth is then studied using both adjusted and unadjusted data. Wealth inequality is found to have risen steadily during the 1990s. The increased concentration of financial wealth was an important factor in determining this path.

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Bibliographic Info

Paper provided by Bank of Italy, Economic Research and International Relations Area in its series Temi di discussione (Economic working papers) with number 530.

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Date of creation: Dec 2004
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Handle: RePEc:bdi:wptemi:td_530_04

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Keywords: household wealth; wealth inequality; Italy;

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  5. Robert E. Lipsey & Helen Stone Tice, 1989. "The Measurement of Saving, Investment, and Wealth," NBER Books, National Bureau of Economic Research, Inc, number lips89-1, July.
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  9. Cannari Luigi & D'Alessio G., 2002. "La distribuzione del reddito e della ricchezza nelle regioni italiane," Rivista economica del Mezzogiorno, Società editrice il Mulino, issue 4, pages 809-848.
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  17. Drolet, Marie & Zhang, Xuelin & Morissette, Rene, 2002. "The Evolution of Wealth Inequality in Canada, 1984-1999," Analytical Studies Branch Research Paper Series 2002187e, Statistics Canada, Analytical Studies Branch.
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  19. Shorrocks, A F, 1980. "The Class of Additively Decomposable Inequality Measures," Econometrica, Econometric Society, vol. 48(3), pages 613-25, April.
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  23. Giovanni D'Alessio & Ivan Faiella, 2002. "Non-response behaviour in the Bank of ItalyÂ’s Survey of Household Income and Wealth," Temi di discussione (Economic working papers) 462, Bank of Italy, Economic Research and International Relations Area.
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