TY  - UNPD
A1  - Jappelli, Tullio
A1  - Padula, Mario
T1  - Households’ saving and debt in Italy
T2  - Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2007,30
N2  - We review savings trends in Italy, summarizing available empirical evidence on Italians’ motives to save, relying on macroeconomic indicators as well as on data drawn from the Bank of Italy’s Survey of Household Income and Wealth from 1984 to 2004. The macroeconomic data indicate that households’ saving has dropped significantly, although Italy continues to rank above most other countries in terms of saving. We then examine with microeconomic data four indicators of household financial conditions: the propensity to save, the proportion of households with negative savings, the proportion of households with debt, and the proportion of households that lack access to formal credit markets. By international comparison, the level of debt of Italian households and default risk are relatively low. But in light of the deep changes undergone by the Italian pension system, the fall in saving is a concern, particularly for individuals who entered the labor market after the 1995 reform and who have experienced the largest decline in pension wealth. JEL Classification: D91
T3  - CFS working paper series - 2007, 30 
KW  - saving
KW  - household debt
KW  - Italien
KW  - Haushalt
KW  - Sparen
KW  - Schulden
Y1  - 2007
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/390
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30-51016
IS  - September 22, 2007
ER  -