Income and wealth above the median: New measurements and results for Europe and the United States

Louis Chauvel, Anne Hartung, Eyal Bar-Haim, Philippe Van Kerm

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

1 Scopus citations

Abstract

The study of the upper tail of the income and wealth distributions is important to the understanding of economic inequality. By means of the ‘isograph’, a new tool to describe income or wealth distributions, the authors compare wealth and income and wealth-to-income ratios in 16 European countries and the United States using data for years 2013/2014 from the Eurozone Household Finance and Consumption Survey and the US Survey on Consumer Finance. Focussing on the top half of the distribution, the authors find that for households in the top income quintile, wealth-to-income ratios generally increase rapidly with income; the association between high wealth and high incomes is highest among the highest percentiles. There is generally a positive relationship between median wealth in the country and the wealth of the top 1%. However, the United States is an outlier where the median wealth is relatively low but the wealth of the top 1% is extremely high.

Original languageEnglish
Title of host publicationResearch on Economic Inequality
PublisherEmerald Group Publishing Ltd.
Pages89-104
Number of pages16
DOIs
StatePublished - 1 Jan 2019

Publication series

NameResearch on Economic Inequality
Volume27
ISSN (Print)1049-2585

Keywords

  • Distributions
  • Income
  • Income-to-wealth ratio
  • Inequality
  • Isograph
  • Wealth

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