The financial accounts record financial assets and liabilities in terms of stocks and flows and are used to study subjects such as the composition of households' savings and wealth, the quantity of funds raised by enterprises and general government, the financial position of a country vis-à-vis the rest of the world, and the evolution of financial systems. The Bank of Italy has published Italy's financial accounts since the beginning of the sixties and contributes to the ECB presentation of the euro-area's financial accounts.
This workshop provides an overview of different aspects of the financial accounts. It is organized into four Sections. The first Section covers historical issues concerning the origins of the financial accounts. The second Section analyzes methodological subjects, such as the reconstruction of annual financial accounts since 1950, the estimates of quarterly accounts, the inclusion of future pension liabilities in financial accounts, and the comparison with the Bank of Italy survey of household income and wealth. The third Section focuses on the evolution of the Italian financial system, on the impact of taxation on financial assets and liabilities and on the monetary policy effects on the flow of funds. The fourth Section provides some international comparisons of financial systems and studies the convergence of financial structures in Europe.
Coordinator of the research project:
Riccardo De Bonis, Bank of Italy
