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Household aggregate wealth in the main OECD countries from 1980 to 2011: what do the data tell us?


  • Riccardo De Bonis

    () (Bank of Italy)

  • Daniele Fano

    () (University of Rome, Tor Vergata)

  • Teresa Sbano

    () (Pioneer Investments)


This paper analyses aggregate household wealth in Canada, France, Germany, Italy, Japan, Spain, the UK and the US. Building on a new data set for the time span 1980-2011, we discuss the trends in household financial assets in the last thirty years, the reasons for differences across countries, the tendency towards convergence, the economic interpretation of breaks in time series and the effects of the recent financial crisis. We also comment on the evolution of household debt and real assets. In discussing the empirical evidence, the paper summarises some of the recent literature on household wealth.

Suggested Citation

  • Riccardo De Bonis & Daniele Fano & Teresa Sbano, 2013. "Household aggregate wealth in the main OECD countries from 1980 to 2011: what do the data tell us?," Questioni di Economia e Finanza (Occasional Papers) 160, Bank of Italy, Economic Research and International Relations Area.
  • Handle: RePEc:bdi:opques:qef_160_13

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    References listed on IDEAS

    1. Giuseppe Bruno & Riccardo De Bonis, 2009. "Do financial systems converge? New evidence from household financial assets in selected OECD countries," IFC Bulletins chapters,in: Bank for International Settlements (ed.), Proceedings of the IFC Conference on "Measuring financial innovation and its impact", Basel, 26-27 August 2008, volume 31, pages 383-401 Bank for International Settlements.
    2. Bruno, Giuseppe & De Bonis, Riccardo & Silvestrini, Andrea, 2012. "Do financial systems converge? New evidence from financial assets in OECD countries," Journal of Comparative Economics, Elsevier, vol. 40(1), pages 141-155.
    3. Florian Pelgrin & Alain de Serres, 2003. "The Decline in Private Saving Rates in the 1990s in OECD Countries: How Much Can Be Explained by Non-wealth Determinants?," OECD Economic Studies, OECD Publishing, vol. 2003(1), pages 117-153.
    4. Riccardo Bonci & Grazia Marchese & Andrea Neri, 2005. "Financial wealth in the financial accounts and in the Survey of Household Income and Wealth," Temi di discussione (Economic working papers) 565, Bank of Italy, Economic Research and International Relations Area.
    5. Riccardo De Bonis & Andrea Silvestrini, 2012. "The effects of financial and real wealth on consumption: new evidence from OECD countries," Applied Financial Economics, Taylor & Francis Journals, vol. 22(5), pages 409-425, March.
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    Blog mentions

    As found by, the blog aggregator for Economics research:
    1. Warum sind wir bloƟ so arm?
      by faz-bern in Fazit on 2013-05-28 15:50:57


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    Cited by:

    1. Giampaolo Gabbi & Elisa Ticci & Pietro Vozzella, 2014. "Financialisation and Economic and Financial Crises: The Case of Italy," FESSUD studies fstudy23, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    2. Riccardo De Bonis, 2016. "What Piketty said in Capital in the Twenty-first Century and how economists reacted," Mo.Fi.R. Working Papers 130, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.

    More about this item


    household wealth and debt; financial systems;

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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