全球智库信息集成服务系统(G2TT): DP11848 Accounting for Wealth Inequality Dynamics: Methods, Estimates and Simulations for France (1800-2014)

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来源类型	Discussion paper
规范类型	论文
来源ID	DP11848
	DP11848 Accounting for Wealth Inequality Dynamics: Methods, Estimates and Simulations for France (1800-2014)
	Thomas Piketty; Jonathan Goupille-Lebret; Bertrand Garbinti
发表日期	2017-02-13
出版年	2017
语种	英语
摘要	This paper combines different sources and methods (income tax data, inheritance registers, national accounts, wealth surveys) in order to deliver consistent, unified wealth distribution series by percentiles for France over the 1800-2014 period, with detailed breakdowns by age, gender, income and assets over the 1970-2014 sub-period. We find a large decline of the top 10% wealth share from the 1910s to the 1980s (from 80-90% of total wealth during the 19th century up until World War 1, down to 50-60% in the 1980s), mostly to the benefit of the middle 40% of the distribution (the bottom 50% wealth share is always less than 10%). Since the 1980s-90s, we observe a moderate rise of wealth concentration, with large fluctuations due to asset price movements. In effect, rising inequality in saving rates and rates of return pushes toward rising wealth concentration, in spite of the contradictory effect of housing prices. We develop a simple simulation model highlighting how the combination of unequal saving rates, rates of return and labor earnings leads to large multiplicative effects and high steady-state wealth concentration. Small changes in the key parameters appear to matter a lot for long-run inequality. We discuss the conditions under which rising concentration is likely to continue in the coming decades.
主题	Economic History ; Public Economics
关键词	Wealth inequality Steady-state Saving rate
URL	https://cepr.org/publications/dp11848
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/540661
推荐引用方式 GB/T 7714	Thomas Piketty,Jonathan Goupille-Lebret,Bertrand Garbinti. DP11848 Accounting for Wealth Inequality Dynamics: Methods, Estimates and Simulations for France (1800-2014). 2017.