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Capturing top incomes and measuring inequality in Europe | VOX, CEPR Policy Portal

The problem of the ‘missing top’ in household income surveys has been highlighted by tax-based estimates of top income shares. This column shows that tax-based top income adjustments to EU Statistics on Income and Social Conditions surveys often make a substantial difference, but to an extent that varies widely across European countries and over time. Incorporating data from ....

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The growing concentration of wealth in Italy | VOX, CEPR Policy Portal

Paolo Acciari, Facundo Alvaredo, Salvatore Morelli 24 April 2021
Growing wealth disparities can have corrosive effects on equality of opportunity when they crystallise over time and turn into persistent disparities across generations. This column uses newly assembled data from Italian inheritance tax records to show that the wealth share of the top 1% (half a million individuals) increased from 16% in 1995 to 22% in 2016, and the share accruing to the top 0.01% (the richest 5,000 adults) almost tripled from 1.8% to 5%. In contrast, the poorest 50% saw an 80% drop in their average net wealth over the same period. The data also reveal the growing role of inheritance and gifts inter vivos as a share of national income, as well as their increasing concentration at the top. ....

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