Report
The choice to enrich the private sector
Thanks to expansionary fiscal policies, and especially expansionary monetary policies leading to sharp rises in asset prices, OECD countries have chosen to enrich the private sector. The rise in total wealth (as a percentage of GDP) is indeed spectacular. What are the consequences of this choice and the sharp rise in private sector wealth? The private sector's capacity to intervene in the economy (for example in innovation) has become very strong; The variability of asset prices can also be very high, given the size of the amount of money moving from one asset to another when the preferences of the wealth owners change; The perception of inequality will be increasingly strong, since the concentration of wealth is also high. The increase in wealth, given these consequences, will be the subject of increased attention from public opinion, politicians and economic analyses.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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