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Wealth Inequality: A Hybrid Approach Toward Multidimensional Distributional National Accounts In Europe
Review of Income and Wealth ( IF 1.9 ) Pub Date : 2021-07-10 , DOI: 10.1111/roiw.12519
Sofie R. Waltl 1, 2
Affiliation  

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.

中文翻译:

财富不平等:欧洲多维分配国民账户的混合方法

本文提出了一个实际可行的框架,用于编制具有两个功能的多维分布国民账户 (MDINA):净资产(组成)及其分布的综合衡量,以及与宏观经济统计数据的链接。我按财富和收入群体划分了可销售财富的 12 个组成部分,以及奥地利、芬兰、法国、德国和西班牙的三种财富功能。MDINA 与汇总指标相辅相成,揭示了不平等程度的巨大异质性,并揭示了国家间和国家内财富组合结构的差异。我结合了在很大程度上统一的 HFCS 调查中收集的数据,并使用(广义)帕累托模型根据富豪榜估计的(广义)帕累托模型或从税收数据和泄露的财富信息中得出的最高财富份额,调整了调查模式中关于处理头尾的剩余差异。离岸避税天堂。在调查没有进行适当的尾尾修正的国家中,衡量的不平等程度增加最为严重。
更新日期:2021-07-10
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