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Italian family wealth illiquid assets, mostly property, and financial instruments, held by the country’s households across all classes has long been a pillar of economic strength in the heavily indebted nation. It is in focus again as the war in Ukraine, energy price shocks and inflation weaken the country’s outlook. At 10 trillion euros (US$10.56 trillion), such wealth is one of the world’s largest stockpiles: It is 8.7 times greater than the country’s disposable income (that would be mostly cash), Bank of Italy data show. Set against Italy’s sovereign debt of more than 150 percent of GDP, Italian families preside ....
What are the likely economic consequences of Russia’s invasion of Ukraine and the responses by the international community? The IGM Forum at Chicago Booth invited its panel of leading European and US economists to express their views. As this column reports, an overwhelming majority of the experts think that the economic and financial sanctions that have been implemented to ....