The Effect of Population Ageing on Household Portfolio Choices in Italy

Marianna Brunetti and Costanza Torricelli

Heterogeneity and monetary policy from Universita di Modena e Reggio Emilia, Dipartimento di Economia Politica

Abstract: Based on widely accepted evidence on the exceptional ageing of the Italian population, this paper aims to assess the impact of ageing on household portfolios in Italy and hence ultimately on financial markets. To this end, we use data taken by the Bank of Italy Survey of Household Income and Wealth (SHIW) over the the period 1995–2004 and we analyse the average household portfolio in relation to demographic characteristics. In contrast to some results reported in the literature for the US, we find that financial choices of Italian households are significantly affected by age. It follows that the exceptional ageing of the population in Italy is going to have relevant consequences on the Italian financial market.

Keywords: population ageing; financial assets; household portfolio; survey data (search for similar items in EconPapers)
JEL-codes: D1 D91 J11 (search for similar items in EconPapers)
Pages: pages 34
Date: 2007-02
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Citations: View citations in EconPapers (1)

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Related works:
Working Paper: The Effect of Population Ageing on Household Portfolio Choices in Italy (2007)
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