Working Paper Series
Jacob Lundberg and Daniel Waldenström
Wealth Inequality in Sweden: What Can We Learn from Capitalized Income Tax Data?
Abstract: This paper presents new estimates of wealth inequality in
Sweden during 2000–2012, linking wealth register data up to 2007 and
individually capitalized wealth based on income and property tax registers
for the period thereafter when a repeal of the wealth tax stopped the
collection of individual wealth statistics. We find that wealth inequality
increased after 2007 and that more unequal bank holdings and apartment
ownership appear to be important drivers. We also evaluate the performance
of the capitalization method by contrasting its estimates and their
dispersion with observed stocks in register data up to 2007. The
goodness-of-fit varies tremendously across assets and we conclude that
although capitalized wealth estimates may well approximate overall
inequality levels and trends, they are highly sensitive to assumptions and
the quality of the underlying data sources.
Keywords: Wealth distribution; Capitalization method; Investment income method; Gini co-efficient; Top wealth shares; Great Recession; (follow links to similar papers)
JEL-Codes: D31; H20; N32; (follow links to similar papers)
54 pages, August 31, 2016
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