Quotation Waltl, Sofie. 2021. Wealth Inequality: A Hybrid Approach toward Multidimensional Distributional National Accounts in Europe. Review of Income and Wealth.


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Abstract

This article proposes a practically feasible framework for compiling Multidimensional Distributional National Accounts (MDINAs) serving two functions: a comprehensive measure of (components of) net worth and their distribution, and a link to macroeconomic statistics. I break down 12 components of marketable wealth by wealth and income groups, and three functions of wealth for Austria, Finland, France, Germany, and Spain. MDINA complemented by summary indicators reveal large heterogeneity in the degree of inequality, and shed light on differences in the structure of wealth portfolios across and within countries. I combine data collected in the largely harmonized HFCS survey and adjust for remaining differences in survey modes regarding the treatment of the top tail using (Generalized) Pareto models estimated from rich lists or top wealth shares derived from tax data and leaked information on wealth held in offshore tax havens. Measured inequality increases strongest in countries where surveys refrain from appropriate top-tail corrections.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Review of Income and Wealth
Citation Index SSCI
WU Journalrating 2009 A
WU-Journal-Rating new FIN-A, VW-C, WH-B
Language English
Title Wealth Inequality: A Hybrid Approach toward Multidimensional Distributional National Accounts in Europe
Year 2021
Reviewed? Y
URL https://onlinelibrary.wiley.com/doi/10.1111/roiw.12519
DOI https://doi.org/10.1111/roiw.12519
Open Access Y
Open Access Link https://onlinelibrary.wiley.com/doi/10.1111/roiw.12519
JEL D31, E01

Associations

People
Waltl, Sofie (Details)
Organization
Department of Economics (Crespo Cuaresma) (Details)
Research areas (Ă–STAT Classification 'Statistik Austria')
5323 Econometrics (Details)
5371 Macroeconomics (Details)
5611 Urban and regional analysis (Details)
5701 Applied statistics (Details)
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