Inequality among the Wealthy
Using the evidence from the Luxembourg Wealth Study it appears that the distribution of wealth in the UK is considerably less than in Canada, the US or Sweden. But does this result come from an underestimate of inequality among the wealthy and of the wealth differential between the rich and the rest? Using a Pareto model for the upper tail of the distribution we can see that the inequality of comparisons of the UK with the other countries is indeed robust.
|Date of creation:||Jun 2011|
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- F. Clementi & M. Gallegati, 2005.
"Pareto's Law of Income Distribution: Evidence for Germany, the United Kingdom, and the United States,"
physics/0504217, arXiv.org, revised Mar 2006.
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- Alan Harrison, 1981. "Earnings by Size: A Tale of Two Distributions," Review of Economic Studies, Oxford University Press, vol. 48(4), pages 621-631.
- Klass, Oren S. & Biham, Ofer & Levy, Moshe & Malcai, Ofer & Solomon, Sorin, 2006. "The Forbes 400 and the Pareto wealth distribution," Economics Letters, Elsevier, vol. 90(2), pages 290-295, February.
- Amiel, Yoram & Cowell, Frank & Polovin, Avraham, 1996. "Inequality among the Kibbutzim," Economica, London School of Economics and Political Science, vol. 63(250), pages S63-85, Suppl..
- Eva Sierminska & Andrea Brandolini & Timothy Smeeding, 2006. "The Luxembourg Wealth Study – A cross-country comparable database for household wealth research," Journal of Economic Inequality, Springer, vol. 4(3), pages 375-383, December.
- Markus Jantti & Eva Sierminska & Tim Smeeding, 2008. "The Joint Distribution of Household Income and Wealth: Evidence from the Luxembourg Wealth Study," OECD Social, Employment and Migration Working Papers 65, OECD Publishing.
- Frank Cowell & Maria-Pia Victoria-Feser, 2007. "Robust stochastic dominance: A semi-parametric approach," Journal of Economic Inequality, Springer, vol. 5(1), pages 21-37, April.
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