Grazia Marchese's research while affiliated with Banca d'Italia and other places

Publications (7)

Research
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Accurate measures of tangible and financial assets and liabilities of the household sector are crucial for policy analysis. The main source of such information on the aggregate household sector’s balance sheets is time series data from the Canadian System of National Accounts (CSNA) for Canada, the Bank of Italy Financial Accounts (BIFA) for Italy,...
Article
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Official estimates of households' real assets are not available in Italy. Earlier research that reconstructed this component of wealth overlooked the components related to the activities of producer households. This paper presents a method for obtaining a valuation of the components of the real assets related to households business activities. Usin...
Article
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The paper offers a broad overview of the topics addressed during the Bank of Italy's conference on Household wealth in Italy held in Perugia (Italy) in 2007. It recalls the principal reasons for central bank involvement in the compilation of statistics on wealth, looks at the Bank of Italy's experience in this specific field, provides a brief synop...
Conference Paper
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Wealth is an essential indicator of households' material well-being: assessing its amount, trend and distribution is useful to understand our society and the way it evolves. Availability of data on wealth allows the central bank to understand better the interaction between households' behaviour, financial markets and the main macroeconomic variable...
Article
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 hou...
Article
Full-text available
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 hou...
Article
Full-text available
In most European Countries, businesses represent an important share of household wealth. In Italy, according to the 2002 Italian Survey on Household Income and Wealth, more than 10 per cent of non financial assets are represented by businesses. Moreover such an asset accounts for about one third of the non financial wealth of entrepreneurs and memb...

Citations

... Analyses using European data are considerably rarer as this type of data is relatively new in Europe. Antoniewicz et al. [4] have investigated the linkage in Cyprus, Canada, Italy and the United States. Also Durier and Lucile [15] have recently investigated the micro and macro sources for French wealth data. ...
... Nel 2002, sul totale delle attività finanziarie dell'indagine, i debiti commerciali rappresentavano lo 0,7 per cento. Fornire una stima del peso delle partecipazioni in quasi-società risulta invece più complicato, per la mancanza nell'indagine di alcune informazioni cruciali quali il valore del TFR e la forma giuridica delle imprese familiari (si veda Bonci, Marchese, Neri, 2005). In modo approssimato, stimando un'incidenza media del TFR a partire dagli archivi della Centrale dei Bilanci e includendo fra le quasi-società solo le imprese familiari con oltre 5 dipendenti, si giunge comunque a un peso di circa il 20 per cento. ...
... The classification criteria used for the institutional sectors interact with the accounting scheme for assets and liabilities. As Bonci et al. (2007) demonstrate, the composition of household wealth depends on the operative criteria used for the statistical breakdown between producer households and quasi-corporations: raising the threshold (currently 5 employees) beyond which sole proprietorships, informal partnerships and de facto partnerships are classified as quasicorporations would increase the share of households' real assets; lowering it would increase the share of financial assets. 5 Financial assets are subdivided into: monetary gold and SDRs (AF.1); currency and deposits (AF.2); securities other than shares (AF.3); loans (AF.4); shares and other equities (AF.5); insurance technical reserves (AF.6); other accounts payable and receivable (AF.7). ...
... In particular, the share of financial assets in households wealth derived by the SHIW is much lower from that inferable from the financial accounts. For more details seeBonci et al. (2005). ...