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Household Wealth Distribution in Italy in the 1990s

  • Andrea Brandolini

    ()

    (Bank of Italy, Economic Research Department)

  • Luigi Cannari

    ()

    (Bank of Italy, Economic Research Department)

  • Giovanni D'Alessio

    ()

    (Bank of Italy, Economic Research Department)

  • Ivan Faiella

    ()

    (Bank of Italy, Economic Research Department)

This paper describes the composition and distribution of household wealth in Italy. First, the evolution of household portfolios over the last forty years is described on the basis of newly reconstructed aggregate balance sheets. Second, the characteristics and quality of the main statistical source on wealth distribution, the Bank of Italy�s Survey of Household Income and Wealth, are examined together with the statistical procedures used to adjust for non-response, non-reporting and under-reporting. The distribution of household net worth is then studied using both adjusted and unadjusted data. Wealth inequality is found to have risen steadily during the 1990s. The increased concentration of financial wealth was an important factor in determining this path.

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Paper provided by Bank of Italy, Economic Research and International Relations Area in its series Temi di discussione (Economic working papers) with number 530.

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Date of creation: Dec 2004
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Handle: RePEc:bdi:wptemi:td_530_04
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Web page: http://www.bancaditalia.it

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  1. Guiso, Luigi & Jappelli, Tullio & Terlizzese, Daniele, 1991. "Why is Italy's Savings Rate So High?," CEPR Discussion Papers 572, C.E.P.R. Discussion Papers.
  2. Andrea Brandolini, 1999. "The Distribution of Personal Income in Post-War Italy: Source Description, Data Quality, and the Time Pattern of Income Inequality," Temi di discussione (Economic working papers) 350, Bank of Italy, Economic Research and International Relations Area.
  3. Giovanni D'Alessio & Ivan Faiella, 2002. "Non-response behaviour in the Bank of Italy�s Survey of Household Income and Wealth," Temi di discussione (Economic working papers) 462, Bank of Italy, Economic Research and International Relations Area.
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  5. Daniela FABBRI & Mario PADULA, 2003. "Does Poor Legal Enforcement Make Households Credit-Constrained?," FAME Research Paper Series rp81, International Center for Financial Asset Management and Engineering.
  6. Klevmarken, N. Anders, 2001. "On the Wealth Dynamics of Swedish Families 1984-1998," Working Paper Series 2001:17, Uppsala University, Department of Economics.
  7. Pyatt, Graham & Chen, Chau-nan & Fei, John, 1980. "The Distribution of Income by Factor Components," The Quarterly Journal of Economics, MIT Press, vol. 95(3), pages 451-73, November.
  8. Guiso, Luigi & Jappelli, Tullio, 1991. "Intergenerational transfers and capital market imperfections : Evidence from a cross-section of Italian households," European Economic Review, Elsevier, vol. 35(1), pages 103-120, January.
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  10. Luigi Cannari & Giovanni D'Alessio, 2003. "La distribuzione del reddito e della ricchezza nelle regioni italiane," Temi di discussione (Economic working papers) 482, Bank of Italy, Economic Research and International Relations Area.
  11. Wolff, Edward N, 1996. "International Comparisons of Wealth Inequality," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 42(4), pages 433-51, December.
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  18. Shorrocks, A F, 1980. "The Class of Additively Decomposable Inequality Measures," Econometrica, Econometric Society, vol. 48(3), pages 613-25, April.
  19. Robert E. Lipsey & Helen Stone Tice, 1989. "The Measurement of Saving, Investment, and Wealth," NBER Books, National Bureau of Economic Research, Inc, number lips89-1, August.
  20. Ivan faiella & Andrea Neri, 2004. "La ricchezza delle famiglie italiane e americane," Temi di discussione (Economic working papers) 501, Bank of Italy, Economic Research and International Relations Area.
  21. Davies, James B. & Shorrocks, Anthony F., 2000. "The distribution of wealth," Handbook of Income Distribution, in: A.B. Atkinson & F. Bourguignon (ed.), Handbook of Income Distribution, edition 1, volume 1, chapter 11, pages 605-675 Elsevier.
  22. Cowell, Frank A, 1980. "On the Structure of Additive Inequality Measures," Review of Economic Studies, Wiley Blackwell, vol. 47(3), pages 521-31, April.
  23. Shorrocks, Anthony F, 1983. "The Impact of Income Components on the Distribution of Family Incomes," The Quarterly Journal of Economics, MIT Press, vol. 98(2), pages 311-26, May.
  24. Cowell, Frank A., 1989. "Sampling variance and decomposable inequality measures," Journal of Econometrics, Elsevier, vol. 42(1), pages 27-41, September.
  25. Luca Casolaro & Leonardo Gambacorta & Luigi Guiso, 2005. "Regulation, formal and informal enforcement and the development of the household loan market. Lessons from Italy," Temi di discussione (Economic working papers) 560, Bank of Italy, Economic Research and International Relations Area.
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