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The evolution of wealth inequality in France from 1800 to 2014

Bertrand Garbinti and Jonathan Goupille-Lebret

Rue de la Banque, 2018, issue 66

Abstract: This Rue de la Banque analyses the long-run evolution of wealth in France from 1800 to 2014, using estimates from Garbinti, Goupille-Lebret and Piketty (2017). Following a period of prolonged stability during the 19th century, inequality declined ignificantly from the beginning of the 20th century before increasing, moderately but constantly, since the mid 1980s. Financial assets have accounted for an ever-increasing proportion of the wealth of the richest individuals since the 1970s. In the long run, highly contrasting scenarios for the evolution of wealth inequality are possible, depending on differences in labour incomes, saving rates and asset portfolio rates of return.

Date: 2018
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