Italian Household Wealth in a Cross-Country Perspective

Italian Household Wealth in a Cross-Country Perspective
Author: Laura Bartiloro
Publisher:
Total Pages: 24
Release: 2012
Genre:
ISBN:

This paper provides a comparative analysis of household wealth in the United States, the United Kingdom, Japan, France, Germany, Spain and Italy, with a special focus on the latter. First, we compare national levels of debt and financial and real wealth. Second, we analyse the composition of financial wealth in more detail, by looking at the instruments in which households invest. Third, we discuss the empirical evidence on household indebtedness. In a nutshell, in Italy household financial assets are not as large as in the US, the UK or Japan, but are larger than in other European countries. This Italian position derives from the greater importance of securities other than shares and unquoted shares and other equity in the household portfolio, while insurance technical reserves are small by international standards. Italy also has a high ratio of real wealth to disposable income. Taking into account that their debt is low, Italian household have a high net wealth among the main OECD countries.

The Financial Systems of Industrial Countries

The Financial Systems of Industrial Countries
Author: Riccardo De Bonis
Publisher: Springer Science & Business Media
Total Pages: 284
Release: 2012-01-05
Genre: Business & Economics
ISBN: 3642231101

This book offers a comprehensive overview of the financial systems of major industrialized countries using the statistical framework of the financial accounts. After a discussion of how economists agreed to create a framework to monitor the financial linkages between surplus and deficit sectors, the book analyzes in detail the composition and the recent evolution of financial assets and liabilities for households (including public pension rights), firms and intermediaries. Next, the volume studies the convergence patterns of financial structures and their influence on the effectiveness of monetary policy within European countries. The final chapter unifies the previous pictures, showing how the effects of financial integration and global imbalances could have been foreseen based on the financial accounts. The analysis and information contained in the book will help the readers to understand many issues and challenges raised by the recent financial crisis.

Housing Markets in Europe

Housing Markets in Europe
Author: Olivier de Bandt
Publisher: Springer Science & Business Media
Total Pages: 416
Release: 2010-10-14
Genre: Business & Economics
ISBN: 3642153402

During the recession in the years 2008-2009, the most severe for mature economies in the post-war period, housing markets were often mentioned as having a special responsibility. The objective of this book is to shed light on the cyclical behaviour of the housing markets, its fundamental determinants in terms of supply and demand characteristics, and its relationship with the overall business cycle. The co-movements of house prices across countries are also considered, as well as the channel of transmission of house price changes to the rest of the economy. Particular attention is paid to the effects on private consumption, through possible wealth effects. The book is a compilation of original papers produced by economists and researchers from the four main national central banks in the euro area, also with the participation of leading academics.

Changing Inequalities in Rich Countries

Changing Inequalities in Rich Countries
Author: Wiemer Salverda
Publisher: Oxford University Press (UK)
Total Pages: 433
Release: 2014
Genre: Business & Economics
ISBN: 0199687439

This book uses a combination of comparative analysis and in-depth examination of the experience of 30 countries over the past 30 years, to see whether inequality in incomes, wealth, and education has been widening. It shows how these inequalities are related to social and political outcomes such as poverty, family structures, health, and crime.

Italian Household Wealth

Italian Household Wealth
Author: Luigi Cannari
Publisher:
Total Pages: 18
Release: 2012
Genre:
ISBN:

The paper offers a broad overview of the topics addressed during the Bank of Italy's conference on Household wealth in Italy held in Perugia (Italy) in 2007. It recalls the principal reasons for central bank involvement in the compilation of statistics on wealth, looks at the Bank of Italy's experience in this specific field, provides a brief synopsis of the research to date and compares the new estimates with those previously available. The final section provides some thoughts on the future direction of the research.

Poverty in Italy

Poverty in Italy
Author: Chiara Saraceno
Publisher: Policy Press
Total Pages: 208
Release: 2020-09-02
Genre: Social Science
ISBN: 144735222X

Three experienced Italian sociologists explore the structural and cultural dimensions of poverty in their country. Comparing Italy’s regime with other European countries, they consider the interplay of conditions in the labour market, the family and welfare arrangements as causes of poverty. This in-depth analysis explores how forced familialism, unbalanced gender arrangements, territorial cleavages and sluggish growth have rendered Italy vulnerable to financial crisis. As old risks of poverty have worsened, new risks have emerged and children, the working poor and migrants have become the ‘new poor’. Combining theoretical and empirical tools, this is a topical fresh take on the understanding of poverty in Italy that is even more crucial considering the impact of the COVID-19 pandemic.

Growing Unequal? Income Distribution and Poverty in OECD Countries

Growing Unequal? Income Distribution and Poverty in OECD Countries
Author: OECD
Publisher: OECD Publishing
Total Pages: 312
Release: 2008-10-21
Genre:
ISBN: 9264044191

This report provides evidence of a fairly generalised increase in income inequality over the past two decades across OECD countries, but the timing, intensity and causes of the increase differ from what is typically suggested in the media.

Economic Challenges for Europe After the Pandemic

Economic Challenges for Europe After the Pandemic
Author: Luigi Paganetto
Publisher: Springer Nature
Total Pages: 328
Release: 2022-10-05
Genre: Business & Economics
ISBN: 3031103025

This book focuses on the recovery and new normal in a post-Covid scenario, drawing important lessons from the pandemic and proposing new ideas for sustainable development, endogenous dynamism, and inclusive growth. The book presents different ideas and perspectives about the present and the future, reflecting on four main fields of our economic reality: macroeconomics, governments, technology, and society. It discusses important topics for future economic scenarios, beginning with an estimation of the economic consequences of the absence of an equitable distribution of vaccines. Further topics discussed include the government’s debts sustainability, the probability of an inflation/deflation or of a stagflation scenario, as well as the impact of US and European economic policies on economic growth. The book further investigates the economic costs of the pandemic, which have fallen most heavily on those least able to bear them. It examines governments subsidies, which supported people and firms through wage subsidies, unemployment benefits, and other fiscal measures, and discusses the question of whether more investment in health care, education, and other public services will still be needed. In a time of immense change and global challenges, this book is a must-read for scholars, researchers, and students of economics, as well as policy-makers interested in a better understanding of economic growth, energy, environment, migration, development, digital transformation, and demography.

Excessive Private Sector Leverage and Its Drivers

Excessive Private Sector Leverage and Its Drivers
Author: Mariusz Jarmuzek
Publisher: International Monetary Fund
Total Pages: 30
Release: 2017-03-28
Genre: Business & Economics
ISBN: 1475589646

Nonfinancial private sector debt increased significantly in advanced economies prior to the global financial crisis and, with a few exceptions, deleveraging has been limited. Furthermore, in some countries households and corporations have continued to accumulate debt. Drawing on the literature, the paper aims to provide a quantitative assessment of the gaps between actual and sustainable levels of debt and to identify the key factors that drive excessive borrowing. Results suggest that variables that are typically found important in studies focusing on borrowing decisions, are also relevant for explaining the debt sustainability gaps.

Italian Households' Saving and Wealth During the Crisis

Italian Households' Saving and Wealth During the Crisis
Author: Laura Bartiloro
Publisher:
Total Pages: 31
Release: 2013
Genre:
ISBN:

This paper investigates trends in Italian households' saving and wealth in the last twenty years, with a special emphasis on the period immediately following the financial crisis in 2008. The analysis is based on data from the Italian Survey on Household Income and Wealth (1991-2010. The crisis has intensified the trends already under way, as confirmed by the further decline in the saving rate and the deterioration in the financial situation of low-income households, young people and tenants. Overall inequality in wealth distribution has increased. Poverty indicators based on income and wealth summarize these developments: in 2010 nine per cent of Italian households were on a low income and in the event of job loss, had sufficient financial asset to survive at the poverty line for barely six months. This percentage increases to 15 per cent for young people and to 26 per cent for tenants.