Live Breaking News & Updates on United Kingdom Over More

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. ....

United States , France General , United Kingdom , Servizio Studi , P Van Kerm , Banca Ditalia , Mattew Smith , Distributional National Accounts , Journal Of The European Economic Association , Distributional National , National Tax Journal , National Accounts , Intergenerational Mobility , Personal Wealth , Policy Brief , Wealth Concentration , Spain From , European Economic Association , Wealth Shares , United Kingdom Over More , Public Economics , Methods Used , World Inequality , Distributional Financial Accounts , Economics Discussion Series , Federal Reserve System ,