IDEAS home Printed from https://ideas.repec.org/a/cai/rferfe/rfe_182_0147.html
   My bibliography  Save this article

La dynamique des patrimoines des ménages selon l’âge et la génération en France et dans la zone euro

Author

Listed:
  • Luc Arrondel
  • Jérôme Coffinet

Abstract

Aging, a joint consequence of the decline in fertility and longer life expectancy, is likely to influence household savings behavior, particularly in a context of public pension reform. In addition, the wealth of an aging population will have a particular structure, presumably less focused on risky assets. An underlying question then concerns the availability of this wealth to finance the economy?: this is the meaning of the reform sought by the recent ?Loi Pacte?, aimed in particular at directing retirement savings towards equity rather than less risky assets (life insurance in euro funds for example). Therefore, it is important to study how the level and structure of wealth differ according to the age and generation. Insofar as these choices are also likely to differ from the institutional environment (pension system in particular) and the tax system, covering not only capital gains, financial products but also inheritances, it is important to include this study in an international context. This text focuses on France, but offers comparisons with the main European countries. Data show that the distribution of wealth, total or financial, has been distributed for 30 years for the benefit of the older generations. Moreover, since 2008, the structure of French savings is increasingly cautious, less and less focused on risky assets. From a macroeconomic point of view, these elements call for a better allocation of savings of individuals towards products more likely to finance the economy, one of the objectives of the recent ?Loi Pacte?.

Suggested Citation

  • Luc Arrondel & Jérôme Coffinet, 2018. "La dynamique des patrimoines des ménages selon l’âge et la génération en France et dans la zone euro," Revue française d'économie, Presses de Sciences-Po, vol. 0(2), pages 147-177.
  • Handle: RePEc:cai:rferfe:rfe_182_0147
    as

    Download full text from publisher

    File URL: http://www.cairn.info/load_pdf.php?ID_ARTICLE=RFE_182_0147
    Download Restriction: restricted

    File URL: http://www.cairn.info/revue-francaise-d-economie-2018-2-page-147.htm
    Download Restriction: restricted

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cai:rferfe:rfe_182_0147. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jean-Baptiste de Vathaire). General contact details of provider: http://www.cairn.info/revue-francaise-d-economie.htm .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.