IDEAS home Printed from https://ideas.repec.org/p/bdi/opques/qef_148_13.html
   My bibliography  Save this paper

Italian households� saving and wealth during the crisis

Author

Listed:
  • Laura Bartiloro

    (Banca d'Italia)

  • Cristiana Rampazzi

    (Banca d'Italia)

Abstract

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.

Suggested Citation

  • Laura Bartiloro & Cristiana Rampazzi, 2013. "Italian households� saving and wealth during the crisis," Questioni di Economia e Finanza (Occasional Papers) 148, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:opques:qef_148_13
    as

    Download full text from publisher

    File URL: https://www.bancaditalia.it/pubblicazioni/qef/2013-0148/QEF_148.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Tullio Jappelli & Marco Pagano & Marco Di Maggio, 2013. "Households' indebtedness and financial fragility," Journal of Financial Management, Markets and Institutions, Società editrice il Mulino, issue 1, pages 23-46, January.
    2. Kennickell, Arthur & Lusardi, Annamaria, 2005. "Disentangling the importance of the precautionary saving motive," CFS Working Paper Series 2006/15, Center for Financial Studies (CFS).
    3. Andrea Brandolini & Silvia Magri & Timothy M. Smeeding, 2010. "Asset-based measurement of poverty," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 29(2), pages 267-284.
    4. Cristina Barceló & Ernesto Villanueva, 2010. "The response of household wealth to the risk of losing the job: evidence from differences in firing costs," Working Papers 1002, Banco de España.
    5. Marianna Brunetti & Elena Giarda & Costanza Torricelli, 2016. "Is Financial Fragility a Matter of Illiquidity? An Appraisal for Italian Households," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 62(4), pages 628-649, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Casiraghi, Marco & Gaiotti, Eugenio & Rodano, Lisa & Secchi, Alessandro, 2018. "A “reverse Robin Hood”? The distributional implications of non-standard monetary policy for Italian households," Journal of International Money and Finance, Elsevier, vol. 85(C), pages 215-235.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Andrea Brandolini & Silvia Magri & Timothy M. Smeeding, 2010. "Asset-based measurement of poverty," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 29(2), pages 267-284.
    2. Kartik Athreya & José Mustre-del-Río & Juan M Sánchez, 2019. "The Persistence of Financial Distress," The Review of Financial Studies, Society for Financial Studies, vol. 32(10), pages 3851-3883.
    3. Piotr Bialowolski & Dorota Weziak-Bialowolska, 2014. "The Index of Household Financial Condition, Combining Subjective and Objective Indicators: An Appraisal of Italian Households," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 118(1), pages 365-385, August.
    4. Massimo Coletta & Riccardo De Bonis & Stefano Piermattei, 2019. "Household Debt in OECD Countries: The Role of Supply-Side and Demand-Side Factors," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 143(3), pages 1185-1217, June.
    5. Juha Honkkila & Ilja Kristian Kavonius, 2016. "Deriving household indebtedness indicators by linking micro and macro balance sheet data," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Combining micro and macro data for financial stability analysis, volume 41, Bank for International Settlements.
    6. Sarah Kuypers & Gerlinde Verbist, 2022. "Over-indebtedness and poverty : Patterns across household types and policy effects," Working Paper Research 420, National Bank of Belgium.
    7. Alessandra Canepa & Fawaz Khaled, 2018. "Housing, Housing Finance and Credit Risk," IJFS, MDPI, vol. 6(2), pages 1-23, May.
    8. Fernández-Kranz, Daniel & Rodríguez-Planas, Núria, 2011. "The part-time pay penalty in a segmented labor market," Labour Economics, Elsevier, vol. 18(5), pages 591-606, October.
    9. Maria Teresa Medeiros Garcia & Carlos Barros & Antonio Silvestre, 2011. "Saving behaviour: evidence from Portugal," International Review of Applied Economics, Taylor & Francis Journals, vol. 25(2), pages 225-238.
    10. Yang, Lin, 2017. "The relationship between poverty and inequality: concepts and measurement," LSE Research Online Documents on Economics 103491, London School of Economics and Political Science, LSE Library.
    11. Sarah Brown & Pulak Ghosh & Bhuvanesh Pareek & Karl Taylor, 2017. "Financial Hardship and Saving Behaviour: Bayesian Analysis of British Panel Data," Working Papers 2017011, The University of Sheffield, Department of Economics.
    12. Porro, Roberto & Lopez-Feldman, Alejandro & Vela-Alvarado, Jorge W., 2015. "Forest use and agriculture in Ucayali, Peru: Livelihood strategies, poverty and wealth in an Amazon frontier," Forest Policy and Economics, Elsevier, vol. 51(C), pages 47-56.
    13. Celidoni, Martina, 2011. "Vulnerability to poverty: An empirical comparison of alternative measures," MPRA Paper 33002, University Library of Munich, Germany.
    14. Mocetti, Sauro & Viviano, Eliana, 2017. "Looking behind mortgage delinquencies," Journal of Banking & Finance, Elsevier, vol. 75(C), pages 53-63.
    15. Georgarakos, Dimitris & Lojschova, Adriana & Ward-Warmedinger, Melanie E., 2009. "Mortgage Indebtedness and Household Financial Distress," IZA Discussion Papers 4631, Institute of Labor Economics (IZA).
    16. Giarda, Elena, 2013. "Persistency of financial distress amongst Italian households: Evidence from dynamic models for binary panel data," Journal of Banking & Finance, Elsevier, vol. 37(9), pages 3425-3434.
    17. Marianna Brunetti & Costanza Torricelli, 2012. "Second Homes: Households' Life Dream or (Wrong) Investment?," CEIS Research Paper 351, Tor Vergata University, CEIS, revised 04 Aug 2012.
    18. Nick Bailey, 2020. "Measuring Poverty Efficiently Using Adaptive Deprivation Scales," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 149(3), pages 891-910, June.
    19. Francisco Azpitarte & Gaston Yalonetzky, 2023. "The measurement of asset and wealth poverty," Chapters, in: Jacques Silber (ed.), Research Handbook on Measuring Poverty and Deprivation, chapter 38, pages 410-419, Edward Elgar Publishing.
    20. Massimo Baldini & Giovanni Gallo & Costanza Torricelli, 2017. "Past Income Scarcity and Current Perception of Financial Fragility," Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance) 17121, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".

    More about this item

    Keywords

    saving rate; households wealth; poverty; micro-data;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bdi:opques:qef_148_13. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/bdigvit.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.