| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16053 |
| DP16053 The concentration of personal wealth in Italy 1995-2016 | |
| Paolo Acciari; Facundo Alvaredo; Salvatore Morelli | |
| 发表日期 | 2021-04-19 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | Italy is one the countries with the highest wealth-to-income ratio in the developed world. Yet, despite the growing policy interest, knowledge about the size distribution of wealth is currently limited. In this paper, we expand our windows of observation on the distribution of personal wealth using a novel source on the full record of inheritance tax files. The data cover up to 63% of the deceased population and are available between 1995 and 2016, a period of substantial economic turbulence and structural reform for the Italian economy. Our benchmark results rely on the distribution of the net wealth observed in the National Accounts balance sheets. Unlike available statistics estimated from household survey data, our results point to a strong rise in wealth concentration and inequality since the mid-1990s. Whereas the level of wealth concentration in Italy is in line with those of other European countries, its time trend appears more in line with the U.S. experience. Moreover, Italy stands out as one of the countries with the strongest decline in the wealth share of the bottom 50% of the adult population. We explore the role of household wealth portfolios, accumulation patterns during the life cycle, and inheritance flows, its concentration, and taxation patterns as main drivers of the trends observed. A range of alternative series of wealth concentration helps us better understand the role of adjustments and imputations and is based on a multi-series approach, i.e., comparing the pieces of information given by different and competing sources. |
| 主题 | Public Economics |
| 关键词 | Wealth inequality Wealth distribution Distributional national accounts Estate concentration Inheritance tax |
| URL | https://cepr.org/publications/dp16053 |
| 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/545032 |
| 推荐引用方式 GB/T 7714 | Paolo Acciari,Facundo Alvaredo,Salvatore Morelli. DP16053 The concentration of personal wealth in Italy 1995-2016. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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