@unpublished{Acciarietal2022,
  title = {The Concentration of Personal Wealth in {{Italy}} 1995\textendash 2016},
  author = {Acciari, Paolo and Alvaredo, Facundo and Morelli, Salvatore},
  year = {2022},
  abstract = {Italy is one the countries with the highest wealth-to-income ratio in the developed world. Despite the growing policy interest, knowledge about the size distribution of wealth is currently limited. In this paper we expand the windows of observation on the distribution of personal wealth using a novel source on the full records of inheritance tax files that we combine with surveys and national accounts, between 1995 and 2016, a period of economic turbulence and structural reforms. Our benchmark results rely on the distribution of the net wealth in the National Accounts balance sheets. Unlike available statistics estimated from household surveys, our results point to a strong rise in wealth inequality since the mid-1990s. Whereas the level of wealth concentration in Italy is in line with other European countries, its time trend appears more in line with the U.S. Moreover, Italy stands out as one of the countries with the strongest decline in the wealth share of the bottom 50\% of the adult population. The paper also sheds light on the determinants on wealth inequality trends. We explore the role of age and the life-cycle, portfolio compositions, inheritance flows, including its concentration, and taxation patterns as main drivers of the observed trends. A range of alternative series of wealth concentration helps us better understand the role of adjustments and imputations, based on a multi-series approach, i.e., comparing the pieces of information given by different and competing sources.},
  keywords = {Determinants of Wealth and Wealth Inequality,Trends in Aggregate Wealth and Wealth Inequality},
  url_file = {Acciarietal2022.pdf},
  note = {Unpublished manuscript}
}

{"_id":"rYhS8t5pteYF3ExCQ","bibbaseid":"acciari-alvaredo-morelli-theconcentrationofpersonalwealthinitaly19952016-2022","author_short":["Acciari, P.","Alvaredo, F.","Morelli, S."],"bibdata":{"bibtype":"unpublished","type":"unpublished","title":"The Concentration of Personal Wealth in Italy 1995– 2016","author":[{"propositions":[],"lastnames":["Acciari"],"firstnames":["Paolo"],"suffixes":[]},{"propositions":[],"lastnames":["Alvaredo"],"firstnames":["Facundo"],"suffixes":[]},{"propositions":[],"lastnames":["Morelli"],"firstnames":["Salvatore"],"suffixes":[]}],"year":"2022","abstract":"Italy is one the countries with the highest wealth-to-income ratio in the developed world. Despite the growing policy interest, knowledge about the size distribution of wealth is currently limited. In this paper we expand the windows of observation on the distribution of personal wealth using a novel source on the full records of inheritance tax files that we combine with surveys and national accounts, between 1995 and 2016, a period of economic turbulence and structural reforms. Our benchmark results rely on the distribution of the net wealth in the National Accounts balance sheets. Unlike available statistics estimated from household surveys, our results point to a strong rise in wealth inequality since the mid-1990s. Whereas the level of wealth concentration in Italy is in line with other European countries, its time trend appears more in line with the U.S. Moreover, Italy stands out as one of the countries with the strongest decline in the wealth share of the bottom 50% of the adult population. The paper also sheds light on the determinants on wealth inequality trends. We explore the role of age and the life-cycle, portfolio compositions, inheritance flows, including its concentration, and taxation patterns as main drivers of the observed trends. A range of alternative series of wealth concentration helps us better understand the role of adjustments and imputations, based on a multi-series approach, i.e., comparing the pieces of information given by different and competing sources.","keywords":"Determinants of Wealth and Wealth Inequality,Trends in Aggregate Wealth and Wealth Inequality","url_file":"Acciarietal2022.pdf","note":"Unpublished manuscript","bibtex":"@unpublished{Acciarietal2022,\n title = {The Concentration of Personal Wealth in {{Italy}} 1995\\textendash 2016},\n author = {Acciari, Paolo and Alvaredo, Facundo and Morelli, Salvatore},\n year = {2022},\n abstract = {Italy is one the countries with the highest wealth-to-income ratio in the developed world. Despite the growing policy interest, knowledge about the size distribution of wealth is currently limited. In this paper we expand the windows of observation on the distribution of personal wealth using a novel source on the full records of inheritance tax files that we combine with surveys and national accounts, between 1995 and 2016, a period of economic turbulence and structural reforms. Our benchmark results rely on the distribution of the net wealth in the National Accounts balance sheets. Unlike available statistics estimated from household surveys, our results point to a strong rise in wealth inequality since the mid-1990s. Whereas the level of wealth concentration in Italy is in line with other European countries, its time trend appears more in line with the U.S. Moreover, Italy stands out as one of the countries with the strongest decline in the wealth share of the bottom 50\\% of the adult population. The paper also sheds light on the determinants on wealth inequality trends. We explore the role of age and the life-cycle, portfolio compositions, inheritance flows, including its concentration, and taxation patterns as main drivers of the observed trends. A range of alternative series of wealth concentration helps us better understand the role of adjustments and imputations, based on a multi-series approach, i.e., comparing the pieces of information given by different and competing sources.},\n keywords = {Determinants of Wealth and Wealth Inequality,Trends in Aggregate Wealth and Wealth Inequality},\n url_file = {Acciarietal2022.pdf},\n note = {Unpublished manuscript}\n}\n\n","author_short":["Acciari, P.","Alvaredo, F.","Morelli, S."],"key":"Acciarietal2022","id":"Acciarietal2022","bibbaseid":"acciari-alvaredo-morelli-theconcentrationofpersonalwealthinitaly19952016-2022","role":"author","urls":{" file":"https://bibbase.org/f/nKAPSyp34A9azBzJd/Acciarietal2022.pdf"},"keyword":["Determinants of Wealth and Wealth Inequality","Trends in Aggregate Wealth and Wealth Inequality"],"metadata":{"authorlinks":{}},"downloads":11},"bibtype":"unpublished","biburl":"https://bibbase.org/f/nKAPSyp34A9azBzJd/GCWealthProject_WealthResearchLibrary.bib","dataSources":["LzTmAXWSGPEftiPNn","hHZFQp7q53h3BYKe8","fQPtBcTj2wZiiZvTJ"],"keywords":["determinants of wealth and wealth inequality","trends in aggregate wealth and wealth inequality"],"search_terms":["concentration","personal","wealth","italy","1995","2016","acciari","alvaredo","morelli"],"title":"The Concentration of Personal Wealth in Italy 1995– 2016","year":2022,"downloads":11}