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Distributional Wealth Accounts: methods and preliminary evidence

Author

Listed:
  • Andrea Neri

    (Bank of Italy)

  • Matteo Spuri

    (Bank of Italy)

  • Francesco Vercelli

    (Bank of Italy)

Abstract

This paper presents the new quarterly experimental statistics on the Distributional Wealth Accounts (DWA) for the household sector, in line with national accounts aggregates. The Bank of Italy, together with the ECB, has coordinated the development of the methodology used for all the euro-area countries and compiles the DWA for Italy, exploiting survey data, balance sheets, information from administrative sources and banks' statistical reports. This paper analyses the methodology, based on assumptions widely used in the scientific literature. It also provides preliminary national evidence and an international comparison. The portfolio composition is heterogeneous across Italian households: the poorest ones mainly hold dwellings and deposits, while the richest ones diversify more. The wealthiest 5 per cent owns around 46 per cent of total net wealth. The main inequality indicators remained practically stable between 2017 and 2022, after the increase observed from 2010 to 2016. The concentration of wealth in Italy is lower than the euro-area average.

Suggested Citation

  • Andrea Neri & Matteo Spuri & Francesco Vercelli, 2024. "Distributional Wealth Accounts: methods and preliminary evidence," Questioni di Economia e Finanza (Occasional Papers) 836, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:opques:qef_836_24
    as

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    References listed on IDEAS

    as
    1. Philip Vermeulen, 2018. "How Fat is the Top Tail of the Wealth Distribution?," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 64(2), pages 357-387, June.
    2. Mr. Robert M Heath & Evrim Bese Goksu, 2016. "G-20 Data Gaps Initiative II: Meeting the Policy Challenge," IMF Working Papers 2016/043, International Monetary Fund.
    3. Giovanni D'Alessio & Andrea Neri, 2015. "Income and wealth sample estimates consistent with macro aggregates: some experiments," Questioni di Economia e Finanza (Occasional Papers) 272, Bank of Italy, Economic Research and International Relations Area.
    4. Engel, Janina & Riera, Pau Gayà & Grilli, Joseph & Sola, Pierre, 2022. "Developing reconciled quarterly distributional national wealth – insight into inequality and wealth structures," Working Paper Series 2687, European Central Bank.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    micro-macro linkage; wealth distribution;

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • G51 - Financial Economics - - Household Finance - - - Household Savings, Borrowing, Debt, and Wealth

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