Arbeitspapier

Household Net Wealth: An International Comparison

Household saving can be measured as either the difference between the flows of current income and expenditure, or through households' balance sheets as changes in the stocks of accumulated net wealth. This paper examines household saving in New Zealand and other OECD countries, with particular focus on the stock of net wealth. The ratio of real assets to disposable income in New Zealand is close to OECD levels. However, household financial net wealth as a proportion of disposable income has been falling in New Zealand since the late 1980s, whereas it has been rising in other OECD countries. As a result, housing assets in New Zealand have become an increasing share of households' wealth portfolios. The implied savings rate from households' balance sheets is significantly higher than the flow measure. Moreover, it follows the business cycle more closely, consistent with consumption smoothing behaviour by households.

Language
Englisch

Bibliographic citation
Series: New Zealand Treasury Working Paper ; No. 01/19

Classification
Wirtschaft
Macroeconomics: Consumption; Saving; Wealth
Economic History: Financial Markets and Institutions: General, International, or Comparative
Subject
Household net wealth
saving
financial deregulation

Event
Geistige Schöpfung
(who)
Claus, Iris
Scobie, Grant
Event
Veröffentlichung
(who)
New Zealand Government, The Treasury
(where)
Wellington
(when)
2001

Handle
Last update
10.03.2025, 11:42 AM CET

Data provider

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Object type

  • Arbeitspapier

Associated

  • Claus, Iris
  • Scobie, Grant
  • New Zealand Government, The Treasury

Time of origin

  • 2001

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