Drivers of Wealth Inequality in Euro-Area Countries

Sebastian Leitner

No 122, wiiw Working Papers from The Vienna Institute for International Economic Studies, wiiw

Abstract: Abstract This paper investigates the sources of inequality in household gross and net wealth across eight euro-area countries applying the Shapley value approach to decomposition. The research draws on micro data from the Eurosystem Household Finance and Consumption Survey 2010. Dispersion in bequests and inter vivos transfers obtained by households are found to have a remarkable effect on wealth inequality that is stronger than the one of income differences. In Austria, Germany and Cyprus the contribution of real and financial assets inherited or received as gifts to gross and net wealth inequality attains about 40%. Nevertheless, also the distribution of household characteristics (age, education, size, number of adults and children in the household, marital status) within countries shapes the observed wealth dispersion.

Keywords: inequality; wealth distribution; decomposition analysis; inheritance; inter vivos transfers; income distribution; Europe (search for similar items in EconPapers)
JEL-codes: D31 D63 O52 O57 (search for similar items in EconPapers)
Pages: 27 pages including 3 Tables and 4 Figures
Date: 2016-01
New Economics Papers: this item is included in nep-hme
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Citations: View citations in EconPapers (19)

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Related works:
Working Paper: Drivers of wealth inequality in euro area countries (2015)
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