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EWIGE - European Wealth data InteGration in EUROMOD

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Listed:
  • Sarah Kuypers

    (Universiteit Antwerpen)

  • Francesco Figari

    (Università dell'Insubria)

  • Gerlinde Verbist

    (Universiteit Antwerpen)

  • Dorien Verckist

    (Universiteit Antwerpen)

Abstract

The need for more comprehensive and integrated data on individual well-being is widely recognised. In order to identify better measures of economic performance in a complex economy and thus going Beyond GDP, Stiglitz, Sen and Fitoussi (2009) recommend to consider income, consumption and wealth and to give more prominence to their joint distribution. New household surveys as those developed as part of the Luxembourg Wealth Study and the Eurosystem Household Finance and Consumption Network (HFCS) represent a milestone in the ongoing process to better measure individual well-being. We explore the prospects for using the HFCS dataset as an underlying micro-database for the EU tax-benefit model, EUROMOD. The advantages of this process are twofold. On the one hand, as the HFCS only contains gross income amounts which are not suitable for redistributive analysis, we derive net incomes by simulating the gross-to-net transition with EUROMOD taking into account all important details of the social security and personal income system. On the other hand, we discuss the expansion of new policy domains introduced into the EUROMOD simulations such as wealth taxation, incentives for wealth accumulation and asset tests determining benefit eligibility.

Suggested Citation

  • Sarah Kuypers & Francesco Figari & Gerlinde Verbist & Dorien Verckist, 2017. "EWIGE - European Wealth data InteGration in EUROMOD," JRC Working Papers on Taxation & Structural Reforms 2017-04, Joint Research Centre.
    • Handle: RePEc:ipt:taxref:201704
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    4. Lidia Ceriani & Carlo V. Fiorio & Chiara Gigliarano, 2013. "The importance of choosing the data set for tax-benefit analysis," International Journal of Microsimulation, International Microsimulation Association, vol. 1(6), pages 86-121.
    5. Lidia CERIANI & Carlo V. FIORIO & Chiara GHIGLIARANO, 2013. "The importance of choosing the data set for tax-benefit analysis," Departmental Working Papers 2013-05, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
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    Cited by:

    1. Jonas Boone & Johannes Derboven & Sarah Kuypers & Francesco Figari & Gerlinde Verbist, 2019. "EWIGE 2 Update and Extension of the EUROMOD Wealth Taxation Project," JRC Working Papers on Taxation & Structural Reforms 2019-07, Joint Research Centre.
    2. Keane, Claire & Seán Lyons & Mark Regan & Walsh, Brendan, 2022. "Home support services in Ireland: Exchequer and distributional impacts of funding options," Research Series, Economic and Social Research Institute (ESRI), number SUSTAT111, June.
    3. Marianna Brunetti & Elena Giarda & Costanza Torricelli, 2020. "Financial Fragility across Europe and the US: The Role of Portfolio Choices, Household Features and Economic-institutional Setup," CEIS Research Paper 487, Tor Vergata University, CEIS, revised 28 May 2020.
    4. Sarah Kuypers & Gerlinde Verbist, 2022. "Over-indebtedness and poverty : Patterns across household types and policy effects," Working Paper Research 420, National Bank of Belgium.

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    Keywords

    Wealth taxation; EUROMOD; HFCS;
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