scholarly journals Redistribution in a joint income–wealth perspective: A cross-country comparison

2019 ◽  
Author(s):  
Sarah Kuypers ◽  
Francesco Figari ◽  
Gerlinde Verbist
Keyword(s):  
Joint Distribution ◽  
Wealth Distribution ◽  
Household Finance ◽  
Living Standards ◽  
Microsimulation Model ◽  
Country Comparison ◽  
Cross Country ◽  
Redistributive Effects ◽  
Distribution Of Income ◽  
Consumption Survey

AbstractRedistribution is usually understood in terms of income, as a resource used to rank individuals as well as determine tax liabilities or benefit entitlements. Yet, it is increasingly argued that more prominence should be given to the joint distribution of income and wealth and interest into the taxation of wealth for redistributive purposes has largely increased. By including income and wealth data from the Eurosystem Household Finance and Consumption Survey into the tax–benefit microsimulation model EUROMOD, we add two novel aspects to the literature. First, we include the analysis of taxes on wealth and wealth transfers. Second, we evaluate redistributive effects of tax–benefit systems against the joint income–wealth distribution instead of income only. We show that expressing living standards in terms of both income and wealth results in considerable reranking of individuals, which in turn leads to a lower redistributive impact of tax–benefit systems than is traditionally considered.

But what about that nice house you own? The impact of asset tests in minimum income schemes in Europe: An empirical exploration

2020 ◽  
pp. 095892872097013
Author(s):  
Sarah Marchal ◽  
Sarah Kuypers ◽  
Ive Marx ◽  
Gerlinde Verbist
Keyword(s):  
Household Finance ◽  
Welfare States ◽  
Microsimulation Model ◽  
Anglo Saxon ◽  
Minimum Income ◽  
The Poor ◽  
The Impact ◽  
Consumption Survey ◽  
European Welfare States

Means-tested transfer schemes in Europe and elsewhere tend to include not only income tests but also asset tests of various sorts. The role of asset tests in minimum income protection provisions has been extensively researched in the Anglo-Saxon context. Far fewer authors have assessed the role of asset tests on social policy in a continental European context. Although asset tests may be useful in singling out the more deserving of the poor, we know relatively little of their actual impact on eligibility and social outcomes in European welfare states. This paper looks at the prevalence and design of asset tests in European minimum income protection schemes. We distinguish between two main types of asset tests: outright disqualification when assets reach a certain value, versus a more gradual tapering at a fictional rate of return. We then analyse in greater detail how asset tests in Belgium and Germany, as representatives of these two types, affect minimum income protection eligibility and poverty outcomes. We use the EUROMOD microsimulation model on the Household Finance and Consumption Survey data in order to assess the effects of asset tests. This survey was explicitly designed to more realistically reflect assets and capital incomes.

scholarly journals What explains the gender gap in wealth? Evidence from administrative data

2020 ◽  
Author(s):  
Jaanika Meriküll ◽  
Merike Kukk ◽  
Tairi Rõõm
Keyword(s):  
Administrative Data ◽  
Gender Gap ◽  
Wealth Distribution ◽  
Household Finance ◽  
Married Couples ◽  
Men And Women ◽  
Individual Level ◽  
Self Employment ◽  
Asset Class ◽  
Consumption Survey

AbstractThis paper studies the gender gap in net wealth. We use administrative data on wealth that are linked to the Estonian Household Finance and Consumption Survey, which provides individual-level wealth data for all household types. The unconditional gender gap in mean wealth is 45%, but this sizeable gap in means originates mainly from the top tail of the distribution, where men have much more wealth than women, while the gender differences in wealth are statistically insignificant in most of the lower wealth quintiles. At the top of the distribution the differences in wealth can be explained by larger self-employment activity of men. Men have more business wealth than women do, and the gender wealth gap is the largest for this asset class. The gender wealth gaps across different household types are very heterogeneous. The unconditional gaps in wealth are strongly in favour of men throughout most of the wealth distribution for married couples. For single-member households, on the other hand, the raw gaps are in favour of women in the lower half of the wealth distribution. These raw gaps in opposite directions can mostly be explained by differences in the observed characteristics of men and women among married couples vs single people.

scholarly journals Looking for the missing rich: tracing the top tail of the wealth distribution

2019 ◽  
Vol 26 (6) ◽  
pp. 1234-1258 ◽  
Author(s):  
Stefan Bach ◽  
Andreas Thiemann ◽  
Aline Zucco
Keyword(s):  
Pareto Distribution ◽  
Wealth Distribution ◽  
Household Finance ◽  
Household Surveys ◽  
Consumption Survey

AbstractWe analyse the top tail of the wealth distribution in France, Germany, and Spain using the first and second waves of the Household Finance and Consumption Survey (HFCS). Since top wealth is likely to be under-represented in household surveys, we integrate big fortunes from rich lists, estimate a Pareto distribution, and impute the missing rich. In addition to the Forbes list, we rely on national rich lists since they represent a broader base of the big fortunes in those countries. As a result, the top 1% wealth share increases notably for the three selected countries after imputing the top wealth. We find that national rich lists can improve the estimation of the Pareto coefficient in particular when the list of national USD billionaires is short.

scholarly journals Estimating the Top Tail of the Wealth Distribution

2016 ◽  
Vol 106 (5) ◽  
pp. 646-650 ◽  
Author(s):  
Philip Vermeulen
Keyword(s):  
The Netherlands ◽  
Wealth Distribution ◽  
Household Finance ◽  
Consumption Survey

This paper uses the Household Finance and Consumption Survey to construct new estimates of top wealth shares in Germany, France, Spain, Italy, Belgium, Austria, Finland and The Netherlands. It provides a methodology to address simultaneously non-response and underreporting in wealth surveys.

scholarly journals Is the Top Tail of the Wealth Distribution the Missing Link between the Household Finance and Consumption Survey and National Accounts?

2019 ◽  
Vol 35 (1) ◽  
pp. 31-65 ◽  
Author(s):  
Robin Chakraborty ◽  
Ilja Kristian Kavonius ◽  
Sébastien Pérez-Duarte ◽  
Philip Vermeulen
Keyword(s):  
Pareto Distribution ◽  
Wealth Distribution ◽  
Household Finance ◽  
Household Wealth ◽  
National Accounts ◽  
Missing Link ◽  
System Of National Accounts ◽  
Household Sector ◽  
Consumption Survey ◽  
Asset Holdings

Abstract The financial accounts of the household sector within the system of national accounts report the aggregate asset holdings and liabilities of all households within a country. In principle, when household wealth surveys are explicitly designed to be representative of all households, aggregating these microdata should correspond to the macro-aggregates. In practice, however, differences are large. We first discuss conceptual and generic differences between those two sources of data. Thereafter, we investigate missing top tail observation from wealth surveys as a source of discrepancy. By fitting a Pareto distribution to the upper tail, we provide an estimate of how much of the gap between the micro- and macrodata is caused by the underestimation of the top tail of the wealth distribution. Conceptual and generic differences, as well as missing top tail observations, explain part of the gap between financial accounts and survey aggregates.

What Managerial Skills Are Important for Success: A Cross-Country Comparison

2011 ◽  
Author(s):  
Alexander Patterson ◽  
William A. Gentry ◽  
Sarah A. Stawiski ◽  
David C. Gilmore
Keyword(s):  
Managerial Skills ◽  
Country Comparison ◽  
Cross Country

Decision making in child welfare: A cross-country comparison

2013 ◽  
Author(s):  
Marit Skivenes ◽  
Jill Berrick ◽  
Tarja Poso ◽  
Sue Peckover
Keyword(s):  
Decision Making ◽  
Child Welfare ◽  
Country Comparison ◽  
Cross Country

Konsep Distribusi Pendapatan Dalam Islam

2016 ◽  
Vol 1 (1) ◽  
pp. 85-97
Author(s):  
Moh. Ah. Subhan ZA
Keyword(s):  
Property Rights ◽  
Social Life ◽  
Private Property ◽  
Wealth Distribution ◽  
The State ◽  
Private Property Rights ◽  
Job Opportunities ◽  
The Rich ◽  
The Difference ◽  
Distribution Of Income

The main problem of social life in the community is about how to make the allocation and distribution of income well. Inequality and poverty basically arise not because of the difference of anyone’s strength and weakness in getting livelihood, but because of inappropriate distribution mechanism. With the result that wealth treasure just turns on the rich wealthy, which is in turn, results in the rich get richer and the poor get poorer.Therefore, a discussion on distribution becomes main focus of theory of Islamic economics. Moreover, the discussion of the distribution is not only related to economic issues, but also social and political aspects. On the other side, the economic vision of Islam gives priority to the guarantee of the fulfillment of a better life. Islam emphasizes distributive justice and encloses, in its system, a program for the redistribution of wealth and prosperity, so that each individual is guaranteed with a respectable and friendly standard of living. Islam recognizes private property rights, but the private property rights must be properly distributed. The personal property is used for self and family livelihood, for investment of the working capital, so that it can provide job opportunities for others, for help of the others through zakat, infaq, and shodaqoh. In this way, the wealth not only rotates on the rich, bringing on gap in social life.The problem of wealth distribution is closely related to the welfare of society. Therefore, the state has a duty to regulate the distribution of income in order that the distribution can be fair and reaches appropriate target. The state could at least attempt it by optimizing the role of BAZ (Badan Amil Zakat) and LAZ (Lembaga Amil Zakat) which has all this time been slack. If BAZ and LAZ can be optimized, author believes that inequality and poverty over time will vanish. This is because the majority of Indonesia's population is Muslim.

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