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Household wealth in the euro area: The importance of intergenerational transfers, homeownership and house price dynamics

Thomas Mathä (), Alessandro Porpiglia and Michael Ziegelmeyer ()

Journal of Housing Economics, 2017, vol. 35, issue C, 1-12

Abstract: Results from the Eurosystem Household Finance and Consumption Survey reveal substantial variation in household net wealth across euro area countries that await explanation. This paper focuses on three main factors: (i) homeownership, (ii) housing value appreciation and (iii) intergenerational transfers. We show that these three factors, in addition to the common household and demographic factors, are relevant for the net wealth accumulation process in all euro area countries, and that, using various decomposition techniques, differences in homeownership rates and house price dynamics are important for explaining wealth differences across euro area countries.

Keywords: Household wealth; Homeownership; Property prices; Inheritance, Euro area (search for similar items in EconPapers)
JEL-codes: D31 E21 O52 C42 (search for similar items in EconPapers)
Date: 2017
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Related works:
Working Paper: Household wealth in the euro area: The importance of intergenerational transfers, homeownership and house price dynamics (2014) Downloads
Working Paper: Household wealth in the euro area: the importance of intergenerational transfers, homeownership and house price dynamics (2014) Downloads
Working Paper: Household wealth in the euro area: The importance of intergenerational transfers, homeownership and house price dynamics (2014) Downloads
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