Growth, income and wealth accumulation in rich countries

Marc Morgan
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Marc Morgan: Department of History, Economics and Society / University of Geneva

EKONOMIAZ. Revista vasca de Economía, 2022, vol. 101, issue 01, 200-221

Abstract: This paper discusses estimates of the distribution of national income and wealth produced by the World Inequality Lab in its World Inequality Report 2022. The methodology combines all existing microeconomic data on incomes (surveys, tax data) with macroeconomic data (the system of national accounts). While growth has slowed in rich countries, private wealth accumulation has continued to accelerate and public wealth continued to decline in an era of rising asset prices. The importance of «pre-distributive» policies for income inequality, and «popular wealth» for wealth inequality is emphasised, as well as the differing effects of the financial and Covid crises. In an age of big data it is time for countries to reconcile sources to provide official distributional estimates consistent with macroeconomic growth.

Keywords: economic growth; income inequality; wealth accumulation; wealth inequality (search for similar items in EconPapers)
JEL-codes: D30 D31 E01 E21 N10 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:ekz:ekonoz:2022109

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