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Income and Wealth Above the Median: New Measurements and Results for Europe and the United States
Chauvel, Louis; Hartung, Anne; Bar-Haim, Eyal et al.
2019In Decancq, Koen; van Kerm, Philippe (Eds.) What Drives Inequality
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Keywords :
income; wealth; economic inequality
Abstract :
[en] The study of the upper tail of the income and wealth distributions is important to the understanding of economic inequality. By means of the ‘isograph’, a new tool to describe income or wealth distributions, the authors compare wealth and income and wealth-to-income ratios in 16 European countries and the United States using data for years 2013/2014 from the Eurozone Household Finance and Consumption Survey and the US Survey on Consumer Finance. Focussing on the top half of the distribution, the authors find that for households in the top income quintile, wealth-to-income ratios generally increase rapidly with income; the association between high wealth and high incomes is highest among the highest percentiles. There is generally a positive relationship between median wealth in the country and the wealth of the top 1%. However, the United States is an outlier where the median wealth is relatively low but the wealth of the top 1% is extremely high.
Disciplines :
Sociology & social sciences
Social economics
Author, co-author :
Chauvel, Louis ;  University of Luxembourg > Faculty of Language and Literature, Humanities, Arts and Education (FLSHASE) > Integrative Research Unit: Social and Individual Development (INSIDE)
Hartung, Anne ;  University of Luxembourg > Faculty of Language and Literature, Humanities, Arts and Education (FLSHASE) > Integrative Research Unit: Social and Individual Development (INSIDE)
Bar-Haim, Eyal
van Kerm, Philippe  ;  University of Luxembourg > Faculty of Language and Literature, Humanities, Arts and Education (FLSHASE) > Integrative Research Unit: Social and Individual Development (INSIDE)
External co-authors :
no
Language :
English
Title :
Income and Wealth Above the Median: New Measurements and Results for Europe and the United States
Publication date :
2019
Main work title :
What Drives Inequality
Editor :
Decancq, Koen
van Kerm, Philippe  
Publisher :
Emerald Publishing Ltd
Collection name :
Research on Economic Inequality, vol 27
Pages :
89-104
Peer reviewed :
Peer reviewed
Focus Area :
Computational Sciences
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since 20 January 2020

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