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Working Paper
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Housing is the single most important component of personal wealth in most countries. The special characteristics of housing markets are therefore key to understanding personal portfolios, saving, the household distribution of wealth, and the monetary transmission mechanism. This paper discusses how...
Working Paper
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Does the existence of formal title to land and real estate matter for the distribution of wealth? This paper reviews the empirical literature on the economic impact of land and real estate administration systems across countries. This paper argues that a functioning credit market for secured credit...
Working Paper
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– South Africa 1975-2003
Official balance sheet estimates for the household sector are not currently available in South Africa, yet, with the country’s well developed financial sector and deep capital markets, asset market channels are likely to be important determinants of aggregate consumer spending and saving, consumer...
Working Paper
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Systematic information on household financial asset holdings in developing countries is very sparse; we review some available data and current policy debates. Although financial asset holdings by households are highly concentrated, deeper financial systems are correlated with improved income...
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