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Household Wealth Distribution in Italy in the 1990s

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Author Info
Andrea Brandolini
Giovanni D’Alessio
Luigi Cannari
Ivan Faiella

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Abstract

This paper describes the composition and distribution of household wealth in Italy. First, the evolution of household portfolios over the last 40 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 Italy’s Survey of Household Income and Wealth, are examined together with the statistical procedures used to adjust for nonresponse, nonreporting and underreporting. 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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Paper provided by Levy Economics Institute, The in its series Economics Working Paper Archive with number wp414.

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Date of creation: Nov 2004
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Handle: RePEc:lev:wrkpap:wp414

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This paper has been announced in the following NEP Reports: References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Andrea Brandolini, 1999. "The Distribution of Personal Income in Post-War Italy: Source Description, Data Quality, and the Time Pattern of Income Inequality," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 58(2), pages 183-239, September.
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  2. Fabbri, Daniela & Padula, Mario, 2004. "Does poor legal enforcement make households credit-constrained?," Journal of Banking & Finance, Elsevier, vol. 28(10), pages 2369-2397, October. [Downloadable!] (restricted)
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  3. Luca Casolaro & Leonardo Gambacorta & Luigi Guiso, 2005. "Regulation, formal and informal enforcement and the development of the household loan market. Lessons from Italy," Temi di discussione (Economic working papers) 560, Bank of Italy, Economic Research Department. [Downloadable!]
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  5. Klevmarken, N. Anders, 2001. "On the Wealth Dynamics of Swedish Families 1984-1998," Working Paper Series 2001:17, Uppsala University, Department of Economics. [Downloadable!]
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  6. Guiso, Luigi & Jappelli, Tullio, 1991. "Intergenerational transfers and capital market imperfections : Evidence from a cross-section of Italian households," European Economic Review, Elsevier, vol. 35(1), pages 103-120, January. [Downloadable!] (restricted)
  7. Guiso, Luigi & Parigi, Giuseppe, 1996. "Investment and Demand Uncertainty," CEPR Discussion Papers 1497, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  8. Shorrocks, A F, 1980. "The Class of Additively Decomposable Inequality Measures," Econometrica, Econometric Society, vol. 48(3), pages 613-25, April. [Downloadable!] (restricted)
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  11. Davies, James B. & Shorrocks, Anthony F., 2000. "The distribution of wealth," Handbook of Income Distribution, in: A.B. Atkinson & F. Bourguignon (ed.), Handbook of Income Distribution, edition 1, volume 1, chapter 11, pages 605-675 Elsevier. [Downloadable!] (restricted)
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  14. Luigi Guiso & Tullio Jappelli, 2000. "Household Portfolios in Italy," CSEF Working Papers 43, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy. [Downloadable!]
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  15. Richard T. Curtin & Thomas Juster & James N. Morgan, 1989. "Survey Estimates of Wealth: An Assessment of Quality," NBER Chapters, in: The Measurement of Saving, Investment, and Wealth, pages 473-552 National Bureau of Economic Research, Inc. [Downloadable!]
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  19. Tullio Jappelli & Luigi Pistaferri, 1999. "The Dynamics of Household Wealth Accumulation in Italy," CSEF Working Papers 27, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 01 Dec 2000. [Downloadable!]
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  20. 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 Department. [Downloadable!]
  21. Kessler, Denis & Wolff, Edward N, 1991. "A Comparative Analysis of Household Wealth Patterns in France and the United States," Review of Income and Wealth, Blackwell Publishing, vol. 37(3), pages 249-66, September.
  22. Morissette, René & Zhang, Xuelin & Drolet, Marie, 2002. "The Evolution of Wealth Inequality in Canada, 1984-1999," Analytical Studies Branch Research Paper Series 2002187e, Statistics Canada, Analytical Studies Branch. [Downloadable!]
  23. Edward N. Wolff, 2000. "Recent Trends in Wealth Ownership, 1983-1998," Macroeconomics 0004047, EconWPA. [Downloadable!]
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  24. Shorrocks, A F, 1975. "The Age-Wealth Relationship: A Cross-Section and Cohort Analysis," The Review of Economics and Statistics, MIT Press, vol. 57(2), pages 155-63, May. [Downloadable!] (restricted)
  25. Juster, F Thomas & Kuester, Kathleen A, 1991. "Differences in the Measurement of Wealth, Wealth Inequality and Wealth Composition Obtained from Alternative U.S. Wealth Surveys," Review of Income and Wealth, Blackwell Publishing, vol. 37(1), pages 33-62, March.
  26. Wolff, Edward N, 1996. "International Comparisons of Wealth Inequality," Review of Income and Wealth, Blackwell Publishing, vol. 42(4), pages 433-51, December.
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  28. Silvia Magri, 2002. "Italian households' debt: determinants of demand and supply," Temi di discussione (Economic working papers) 454, Bank of Italy, Economic Research Department. [Downloadable!]
  29. Paiella, Monica, 2007. "Does wealth affect consumption? Evidence for Italy," Journal of Macroeconomics, Elsevier, vol. 29(1), pages 189-205, March. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Davies, James B. & Sandstrom, Susanna & Shorrocks, Anthony & Wolff, Edward N., 2008. "The World Distribution of Household Wealth," Working Papers DP2008/03, World Institute for Development Economic Research (UNU-WIDER). [Downloadable!]
  2. Ivan Faiella & Romina Gambacorta, 2007. "The Weighting Process in the SHIW," Temi di discussione (Economic working papers) 636, Bank of Italy, Economic Research Department. [Downloadable!]
  3. Monica Paiella, 2004. "Does wealth affect consumption? Evidence for Italy," Temi di discussione (Economic working papers) 510, Bank of Italy, Economic Research Department. [Downloadable!]
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  4. Ivan Faiella, 2008. "Accounting for sampling design in the SHIW," Temi di discussione (Economic working papers) 662, Bank of Italy, Economic Research Department. [Downloadable!]
  5. Subramanian, S. & Jayaraj, D., 2006. "The Distribution of Household Wealth in India," Working Papers RP2006/116, World Institute for Development Economic Research (UNU-WIDER). [Downloadable!]
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This page was last updated on 2009-11-4.

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