Multidimensional Affluence in Income and Wealth in the Eurozone: A Cross-Country Comparison Using the HFCS

Sine Kontbay-Busun () and Andreas Peichl
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Sine Kontbay-Busun: Dokuz Eylul University

No 9139, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: This paper applies multidimensional affluence measures to a new dataset on income and wealth in 15 Eurozone countries. We start our analysis by examining the income and wealth distributions separately for each country, and extend it to a multidimensional setting by considering the joint distribution of income and wealth. The results indicate that, with the exception of Cyprus, France, Italy and Slovenia, less than 10% of households are affluent in both income and net wealth. Investigating the joint distributions of income and net wealth confirms that France demonstrates a more homogenous distribution of richness among affluent households compared to other countries in the sample. Portugal demonstrates a higher concentration of richness in the hands of a few compared to the majority of other countries in the sample. The degree of countries' affluence rankings differs with respect to the measures of multidimensional affluence considered.

Keywords: top incomes; multidimensional measurement; richness; wealth; inequality (search for similar items in EconPapers)
JEL-codes: D31 D63 I31 (search for similar items in EconPapers)
Pages: 48 pages
Date: 2015-06
New Economics Papers: this item is included in nep-eec
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Citations: View citations in EconPapers (1)

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Working Paper: Multidimensional affluence in income and wealth in the eurozone: A cross country comparison using the HFCS (2014)
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