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Household wealth in the euro area: The importance of intergenerational transfers, homeownership and house price dynamics

Listed author(s):
  • Mathä, Thomas Y.
  • Porpiglia, Alessandro
  • Ziegelmeyer, Michael

Results from the Eurosystem Household Finance and Consumption Survey reveal substantial variation in household net wealth across euro area countries that await explanation. This paper focuses on three main factors: (i) homeownership, (ii) housing value appreciation and (iii) intergenerational transfers. We show that these three factors, in addition to the common household and demographic factors, are relevant for the net wealth accumulation process in all euro area countries, and that, using various decomposition techniques, differences in homeownership rates and house price dynamics are important for explaining wealth differences across euro area countries.

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File URL: http://www.sciencedirect.com/science/article/pii/S105113771630105X
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Article provided by Elsevier in its journal Journal of Housing Economics.

Volume (Year): 35 (2017)
Issue (Month): C ()
Pages: 1-12

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Handle: RePEc:eee:jhouse:v:35:y:2017:i:c:p:1-12
DOI: 10.1016/j.jhe.2016.12.001
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622881

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