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Evidence from the Dead: New Estimates of Wealth Inequality Using the Distribution of Estates

Author

Listed:
  • Alvaredo, Facundo

    (Paris School of Economics)

  • Berman, Yonatan

    (King's College London)

  • Morelli, Salvatore

    (Roma Tre University)

Abstract

This paper examines the estimation of the distribution of wealth using estates left at death. We establish formal conditions for implementing a simplified version of the classic estate multiplier method, relying solely on minimal information about estates and mortality. These conditions are empirically validated, and the simplified approach is applied to produce new long-run top wealth share series for Belgium, Japan, and South Africa, where estate data have previously been underutilized. This method holds potential for expanding the range of countries and years in which wealth concentration can be estimated, especially where estate data exist but the standard method with heterogeneous multipliers is inapplicable.

Suggested Citation

  • Alvaredo, Facundo & Berman, Yonatan & Morelli, Salvatore, 2024. "Evidence from the Dead: New Estimates of Wealth Inequality Using the Distribution of Estates," IZA Discussion Papers 17389, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp17389
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    More about this item

    Keywords

    mortality rates; estate tax; wealth inequality; public economics;
    All these keywords.

    JEL classification:

    • D3 - Microeconomics - - Distribution
    • H2 - Public Economics - - Taxation, Subsidies, and Revenue

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