01898cas a2200241 a 4500 AALejournalIMF018723 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484374894 1018-5941 BD-DhAAL BD-DhAAL Garcia-Macia, Daniel. Household Wealth and Resilience to Financial Shocks in Italy / Daniel Garcia-Macia. Washington, D.C. : International Monetary Fund, 2018. 1 online resource (26 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students High household wealth is often cited as a key strength of the Italian economy. Both in absolute terms and relative to income, the Italian household sector is wealthier than most euro area peers. A sizable fraction of this wealth is held by the rich and upper middle classes. This paper documents the changes in the Italian household sector's financial wealth over the past two decades, by constructing the matrix of bilateral financial sectoral exposures. Households became increasingly exposed to the financial sector, which in turn was exposed to the highly indebted real and government sectors. The paper then simulates different financial shocks to gauge the ability of the household sector to absorb losses. Simple illustrative calculations are presented for a fall in the value of government bonds as well as for bank bail-ins versus bailouts. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2018/196 Full text available on IMF http://elibrary.imf.org/view/journals/001/2018/196/001.2018.issue-196-en.xml IMF e-Library