Economics at your fingertips  

Inherited Wealth over the Path of Development: Sweden, 1810–2016

Henry Ohlsson, Jesper Roine and Daniel Waldenström ()

Journal of the European Economic Association, 2020, vol. 18, issue 3, 1123-1157

Abstract: We estimate the importance of inherited wealth in Sweden over the past 200 years. Inheritance is measured both as the annual inheritance flow divided by national income and as the share of inherited wealth in all private wealth. In the 19th century, Sweden differs from France and the United Kingdom in having much lower inheritance–income flows, but at the same time exhibiting equally large shares of inherited wealth in total wealth. This pattern is in line with Sweden at the time being a poor country with low domestic capital accumulation, but at the same time exhibiting high economic growth rates. In the 20th century the importance of inheritance in relation to national income fell, but since the 1990s it has increased rapidly, today reaching almost the same levels as a century ago. The share of inherited wealth in total wealth has also fallen over time, but remains relatively low due to a rapid accumulation of new wealth. We study potential determinants and explanations, pointing especially to Swedish welfare-state institutions, and in particular to the development of an extensive public occupational pension system contributing to keeping private inheritance low.

Date: 2020
References: Add references at CitEc
Citations: View citations in EconPapers (9) Track citations by RSS feed

Downloads: (external link) (application/pdf)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

Journal of the European Economic Association is currently edited by Imran Rasul

More articles in Journal of the European Economic Association from European Economic Association
Bibliographic data for series maintained by Oxford University Press ().

Page updated 2023-06-15
Handle: RePEc:oup:jeurec:v:18:y:2020:i:3:p:1123-1157.