Wealth Concentration over the Path of Development: Sweden, 1873-2006
AbstractWe study wealth concentration in Sweden over 130 years, from the beginning of industrialization until the present day. Our series are based on new evidence from estate and wealth tax data, foreign and domestic family firm-wealth, and pension wealth estimates. We find that Swedish wealth concentration was high in the agrarian state, and changed little during early industrialization. From World War I until about 1950, the richest percentile lost ground to high-income earners in the rest of the top-wealth decile. This equalization continued postwar; the entire top decile lost-out relative to the rest of the population. Around 1980, wealth compression stopped and inequality increased. We approximate the effects of international flows and find that the recent increase in wealth inequality is probably larger than what official estimates suggest. Copyright � The editors of the "Scandinavian Journal of Economics" 2009 .
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Scandinavian Journal of Economics.
Volume (Year): 111 (2009)
Issue (Month): 1 (03)
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Web page: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-9442
Other versions of this item:
- Roine, Jesper & Waldenström, Daniel, 2007. "Wealth Concentration over the Path of Development: Sweden, 1873–2006," Working Paper Series 722, Research Institute of Industrial Economics, revised 13 Jun 2008.
- D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- N33 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Europe: Pre-1913
- N34 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Europe: 1913-
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