Replication data for: Heterogeneity in Returns to Wealth and the Measurement of Wealth Inequality

Principal Investigator(s): View help for Principal Investigator(s) Andreas Fagereng; Luigi Guiso; Davide Malacrino; Luigi Pistaferri

Version: View help for Version V1

Name	File Type	Size	Last Modified
AER_PP_FGMP.dta	application/octet-stream	15.1 KB	10/12/2019 07:01:AM
LICENSE.txt	text/plain	14.6 KB	10/12/2019 07:01:AM
readme.pdf	application/pdf	27.2 KB	10/12/2019 07:01:AM
results.do	text/plain	1.2 KB	10/12/2019 07:01:AM

Project Citation:

Fagereng, Andreas, Guiso, Luigi, Malacrino, Davide, and Pistaferri, Luigi. Replication data for: Heterogeneity in Returns to Wealth and the Measurement of Wealth Inequality. Nashville, TN: American Economic Association [publisher], 2016. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113444V1

Project Description

Summary: Lacking a long time series on the assets of the very wealthy, Saez and Zucman (2015) use US tax records to obtain estimates of wealth holdings by capitalizing asset income from tax returns. They document marked upward trends in wealth concentration. We use data on tax returns and actual wealth holdings from tax records for the whole Norwegian population to test the robustness of the methodology. We document that measures of wealth based on the capitalization approach can lead to misleading conclusions about the level and the dynamics of wealth inequality if returns are heterogeneous and even moderately correlated with wealth.

Scope of Project

Subject Terms: Economic inequality; measurement

JEL Classification:
D31 Personal Income, Wealth, and Their Distributions

Geographic Coverage: Norway

Time Period(s): 1993 – 2013

Universe: Households in Norway

Data Type(s): administrative records data

Methodology

Data Source: https://www.ssb.no/en/omssb/tjenester-og-verktoy/data-til-forskning

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Published Versions

V1 [2019-10-12]

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