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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.

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File URL: http://www.bancaditalia.it/pubblicazioni/qef/2013-0160/QEF_160.pdf
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Paper provided by Bank of Italy, Economic Research and International Relations Area in its series Questioni di Economia e Finanza (Occasional Papers) with number 160.

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Date of creation: Apr 2013
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Handle: RePEc:bdi:opques:qef_160_13
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Web page: http://www.bancaditalia.it

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  1. Giuseppe Bruno & Riccardo De Bonis, 2009. "Do Financial Systems Converge?: New Evidence from Household Financial Assets in Selected OECD Countries," OECD Statistics Working Papers 2009/1, OECD Publishing.
  2. Riccardo De Bonis & Andrea Silvestrini, 2011. "The effects of financial and real wealth on consumption: new evidence from OECD countries," Temi di discussione (Economic working papers) 837, Bank of Italy, Economic Research and International Relations Area.
  3. 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.
  4. Alain de Serres & Florian Pelgrin, 2002. "The Decline in Private Saving Rates in the 1990s in OECD Countries: How Much Can be Explained by Non-Wealth Determinants?," OECD Economics Department Working Papers 344, OECD Publishing.
  5. 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.
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