Wealth Inequality Determinants in the EU Members from the CEE Region, 1995-2021

Petar Peshev, Kristina Stefanova and Ivanina Mancheva

Economic Studies journal, 2023, issue 6, 19-40

Abstract: This paper models wealth concentration in 11 EU members from the CEE region using official data for the period between 1995 and 2021 and applies panel econometric methods. The analysis uses the world inequality database (WID.world) for deriving wealth distribution and inequality measures. Our results suggest that inequality and wealth concentration grow at the expense of the middle class and the poorer half of the population. Regression results suggest that the main contributors to wealth inequality are the Great Recession of 2008–2009, inflation, house prices, and bond prices, while GDP per capita, equity prices and various interest rates restore a more equal net wealth distribution. Other variables are also found to have direct or indirect (instrumental variables) associations with the wealth concentration (the dependent variables).

JEL-codes: D31 D63 E01 G51 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:bas:econst:y:2023:i:6:p:19-40

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