A safe harbor: Wealth-income ratios in Switzerland over the 20th century and the role of housing prices

Arbeitspapier

We estimate the ratio of private wealth to national income, Øpt, for Switzerland over the period 1900-2018. Our results indicate that the development of Øpt in Switzerland did not follow a U-shaped pattern as in most European countries, but that the evolution was extraordinarily stable, with Øpt oscillating around 500% over most of the 20th century. However, the wealth-income ratio has been on the rise since the turn of the century to reach 721% in 2017-an unprecedented level in the past. This considerable increase is mainly driven by large capital gains in housing wealth since 2010. We present new cross-country evidence that capital gains in housing wealth have become an important driver of rising wealth-income ratios in a series of developed economies.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: KOF Working Papers ; No. 487

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Economic History: Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy: Europe: 1913- ; Personal Income, Wealth, and Their Distributions ; Factor Income Distribution ; Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
• Thema: wealth-income ratio ; income distribution ; economic growth ; housing prices

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Baselgia, Enea ; Martínez, Isabel
• Ereignis: Veröffentlichung
• (wer): ETH Zurich, KOF Swiss Economic Institute
• (wo): Zurich
• (wann): 2020

Weitere Informationen

• DOI: doi:10.3929/ethz-b-000458727
• Handle: http://hdl.handle.net/10419/235101
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ