Wealth and inequality in Italy
Giovanni D'Alessio ()
No 115, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area
The paper describes first the evolution in total household wealth in Italy over the period 1965-2010 before addressing the analysis of wealth inequality. On the basis of reconstructed data, we show that household wealth inequality declined until the beginning of the 1990s. It then grew significantly during that decade, remaining at approximately the same level afterwards. By international standards, Italy does not have a high level of wealth inequality (contrary to the evidence available for income). Wealth distribution has changed significantly over time, favouring elderly rather than young households. The origins of wealth (savings, gifts, inheritance, capital gains) are also examined and the statistical evidence is discussed together with the opinions on inequality collected by means of statistical surveys.
Keywords: wealth; inequality (search for similar items in EconPapers)
JEL-codes: D31 D63 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_115_12
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