A Safe Harbor: Wealth-Income Ratios in Switzerland over the 20th Century and the Role of Housing Prices
Open access
Datum
2020-12Typ
- Working Paper
ETH Bibliographie
yes
Altmetrics
Abstract
We estimate the ratio of private wealth to national income, βpt, for Switzerland over the period 1900–2018. Our results indicate that the development of βpt in Switzerland did not follow a U-shaped pattern as in most European countries, but that the evolution was extraordinarily stable, with βpt 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. Mehr anzeigen
Persistenter Link
https://doi.org/10.3929/ethz-b-000458727Publikationsstatus
publishedZeitschrift / Serie
KOF Working PapersBand
Verlag
KOF Swiss Economic Institute, ETH ZurichThema
Wealth-Income Ratio; Income Distribution; Economic Growth; Housing PricesOrganisationseinheit
02525 - KOF Konjunkturforschungsstelle / KOF Swiss Economic Institute
03716 - Sturm, Jan-Egbert / Sturm, Jan-Egbert
Zugehörige Publikationen und Daten
Is variant form of: https://doi.org/10.3929/ethz-b-000519010
ETH Bibliographie
yes
Altmetrics