Enea Baselgia
Last Name
Baselgia
First name
Enea
Email
enea.baselgia@unisg.ch
ORCID
Phone
+41 71 224 2706
Web Site
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Item type:Publication, A Safe Harbor: Wealth-Income Ratios in Switzerland over the 20th Century and the Role of Housing Prices(2020); Martinez, IsabelWe 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. How- ever, 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.Type:conference paper