La Ricchezza Finanziaria Nei Conti Finanziari E Nell'Indagine Sui Bilanci Delle Famiglie Italiane

61 Pages Posted: 11 Sep 2008

See all articles by Riccardo Bonci

Riccardo Bonci

European Central Bank (ECB); Bank of Italy

Grazia Marchese

Bank of Italy

Andrea Neri

Bank of Italy

Date Written: November 2, 2005

Abstract

The Survey on Household Income and Wealth, conducted every two years by the Bank of Italy, and the Italian Financial Accounts, published quarterly, provide information on the wealth of Italian households which are independent and, for the time being, not directly comparable. In this paper we perform a detailed comparison of the estimates of the households' various financial assets and liabilities coming from the two sources, identifying the causes responsible for the observed discrepancies. In general, the outstanding amounts reported in the Financial Accounts are significally larger than those arising from the Survey. Reconciling the data in terms of classification criteria and of valuation methods reduces the differences only to a small extent. Once the variability due to sampling and measurement errors is taken into account, the discrepancies are mainly caused by under-reporting on the survey results; the bias from non-response is less important. As a by-product of the analysis, suggestions for some methodological improvements to both the Survey and the Financial Accounts do also arise, possilby from the joint use of the two sources.

Note: Downloadable document is in Italian.

Keywords: Household Wealth, Financial Accounts, sample surveys

JEL Classification: C8, C42, R2

Suggested Citation

Bonci, Riccardo and Marchese, Grazia and Neri, Andrea, La Ricchezza Finanziaria Nei Conti Finanziari E Nell'Indagine Sui Bilanci Delle Famiglie Italiane (November 2, 2005). Available at SSRN: https://ssrn.com/abstract=1265602 or http://dx.doi.org/10.2139/ssrn.1265602

Riccardo Bonci

European Central Bank (ECB) ( email )

Sonnemannstrasse 22
Frankfurt am Main, 60314
Germany

Bank of Italy ( email )

Via Nazionale 91
Rome, 00184
Italy

Grazia Marchese

Bank of Italy ( email )

Via Nazionale 91
Rome, 00184
Italy

Andrea Neri (Contact Author)

Bank of Italy ( email )

Via Nazionale 91
00184 Roma
Italy

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