The substantial amount of undeclared foreign assets reported by disclosure schemes and analyses of international balance of payments statistics suggest that foreign assets held by Italians, as is the case in other countries, are greatly underestimated, in particular in the sector of portfolio...

The analyses of the international investment position and balance of payments statistics suggest that foreign assets held abroad are greatly underestimated, in particular in the sector of portfolio investments. The aim of this work is to test this hypothesis and to estimate the magnitude of...

The paper presents the new data collection and the estimation methodology for the external statistics, the results of the comparison between the old and the new data in the overlapping period and the evolution of the Italian balance of payments and international investment position since the...