@article{Acciarietal2024,
  title = {The Concentration of Personal Wealth in {{Italy}} 1995--2016},
  author = {Acciari, Paolo and Alvaredo, Facundo and Morelli, Salvatore},
  year = {2024},
  month = jan,
  journal = {Journal of the European Economic Association},
  doi = {10.1093/jeea/jvae002},
  url = {https://doi.org/10.1093/jeea/jvae002},
  abstract = {We estimate the distribution of wealth in Italy between 1995 and 2016 using a novel source of inheritance tax files, combined with surveys and national accounts. We find that the level of wealth concentration is in line with other European countries; however, its time trend appears more in line with the US, showing a significant increase over the period studied. The country exhibits one of the greatest declines in the wealth share of the bottom 50\%. The paper also shows that age plays a marginal role in explaining wealth concentration. Changes in savings, instead, are the predominant force behind the increase in wealth inequality, even at the top. Equity prices also account for a large share of wealth growth above the 99th percentile, whereas changes in house prices play only a minor role. Finally, we document the growing concentration of life-time wealth transfers, and their increasingly favorable tax treatment.},
  keywords = {Data Sources: Wealth Inequality Trends,Determinants of Wealth and Wealth Inequality,Trends in Aggregate Wealth and Wealth Inequality},
  note = {jvae002},
  url_file = {Acciarietal2024.pdf}
}

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