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An introduction to Italian balance sheets: methodology and stylized facts

Author

Listed:
  • Luigi Infante

    (Bank of Italy)

  • Francesco Vercelli

    (Bank of Italy)

Abstract

Balance sheet statistics are included in the national accounts system and provide a complete framework for analysing the wealth of a nation and its evolution over time. The paper presents Italian balance sheets, compiled using data on financial accounts produced by the Bank of Italy and non-financial asset data calculated by Istat, the Italian National Institute of Statistics. We provide stylized facts on the comparison between Italy and other major economies, taking into account the statistical comparability limits on non-financial assets across countries. In Italy, the ratio of non-financial assets to gross wealth increased from 43 to 47 per cent between 2005 and 2008 because of the dynamics of housing prices. It then gradually decreased from 2012, reaching 41 per cent at the end of 2017. The net wealth of Italian households far outweighs the negative values reported in the public sector. The ratio of net wealth to income is high in Italy compared with other countries; nevertheless, the gap has narrowed over the last decade.

Suggested Citation

  • Luigi Infante & Francesco Vercelli, 2020. "An introduction to Italian balance sheets: methodology and stylized facts," Questioni di Economia e Finanza (Occasional Papers) 559, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:opques:qef_559_20
    as

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    References listed on IDEAS

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    More about this item

    Keywords

    Balance sheet statistics; sector wealth;

    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
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity

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