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Household Wealth in the National Accounts of Europe, the United States and Japan

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  • André Babeau
  • Teresa Sbano

Abstract

This working paper has been presented and discussed at the October 2002 OECD National Accounts Experts Meeting. The objective of the paper is two fold: (1) present comparable results for household financial and non financial assets and liabilities for Europe, the USA and Japan, (2) analyse the change in the composition of household gross and net wealth of these countries and zones between 1995 and 2000. Data is based on official financial accounts sources. However the paper proposes (and estimate the corresponding data) an original classification, better adapted to analysis: pension funds assets are broken down between defined-benefit and defined contribution, life insurance between unit-linked and guaranteed-rate, mutual-funds between equity, bond and mixed. The paper discusses the reliability of the data, including non listed shares and non financial assets. The paper then discusses global and detailed compared trends of household wealth between countries ... Ce document de travail a été présenté et discuté durant la reunion d’octobre 2002 des experts coptables nationaux de l’OCDE. L’objectif du papier est double : (1) construire et présenter des résultats comparables pour les actifs et passifs des ménages financiers et non financiers pour l’Europe, les Etats-Unis et le Japon, (2) analyser les modifications de la composition de la richesse brute et nette des ménages de ces pays et zones entre 1995 et 2000. Les données sont issues des comptes financiers officiels. Cependant le papier propose (et donne les résultats) une nomenclature originale, mieux adaptée à l’analyse: les actifs dans les fonds de pension sont distingués suivant qu’ils sont à prestations définies ou à cotisation définies, l’assurance-vie est décomposée en « unit-linked » ou « à taux garanti », les OPCVM (ou fonds d’investissement) sont décomposées en actions, obligations ou mixtes. Le document analyse la fiabilité des données, en particulier concernant les actions non ...

Suggested Citation

  • André Babeau & Teresa Sbano, 2003. "Household Wealth in the National Accounts of Europe, the United States and Japan," OECD Statistics Working Papers 2003/2, OECD Publishing.
    • Handle: RePEc:oec:stdaaa:2003/2-en
    DOI: 10.1787/466322268303
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    Citations

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    Cited by:

    1. Herwig Immervoll & Henrik Jacobsen Kleven & Claus Thustrup Kreiner & Emmanuel Saez, 2007. "Welfare reform in European countries: a microsimulation analysis," Economic Journal, Royal Economic Society, vol. 117(516), pages 1-44, January.
    2. Kieran Mc Morrow & Werner Röger, 2003. "Economic and financial market consequences of ageing populations," European Economy - Economic Papers 2008 - 2015 182, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    3. James B. Davies & Susanna Sandström & Anthony Shorrocks & Edward N. Wolff, 2011. "The Level and Distribution of Global Household Wealth," Economic Journal, Royal Economic Society, vol. 121(551), pages 223-254, March.
    4. Janine Aron & John Muellbauer & Johan Prinsloo, 2006. "Towards Official Balance Sheet Estimates for South Africa’s Household Sector," CSAE Working Paper Series 2006-09, Centre for the Study of African Economies, University of Oxford.
    5. Olivia S Mitchell & John Piggott & Michael Sherris & Shaun Yow, 2006. "Financial Innovation for an Ageing World," RBA Annual Conference Volume (Discontinued), in: Christopher Kent & Anna Park & Daniel Rees (ed.),Demography and Financial Markets, Reserve Bank of Australia.
    6. International Monetary Fund, 2005. "France: Financial Sector Assessment Program—Technical Notes—Stress Testing Methodology and Results; Integration into Global Financial Markets; and Public Intervention in Financial Markets—Obstacles to," IMF Staff Country Reports 2005/185, International Monetary Fund.
    7. Börsch-Supan, Axel, 2004. "Global Aging: Issues, Answers, More Questions," MEA discussion paper series 04055, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
    8. Axel Börsch-Supan, 2004. "Global Aging: Issues, Answers, More Questions," Working Papers wp084, University of Michigan, Michigan Retirement Research Center.
    9. Börsch-Supan, Axel, 2004. "Global aging : issues, answers, more questions," Papers 07-28, Sonderforschungsbreich 504.
    10. Časni Anita Čeh, 2016. "Is there a housing wealth effect in European countries?," Croatian Review of Economic, Business and Social Statistics, Sciendo, vol. 2(2), pages 30-40, December.
    11. Janine Aron & John Muellbauer & Johan Prinsloo, 2006. "Estimating the Balance Sheet of the Personal Sector in an Emerging Market Country: South Africa 1975-2003," WIDER Working Paper Series RP2006-99, World Institute for Development Economic Research (UNU-WIDER).

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