EconPapers    
Economics at your fingertips  
 

On the Distribution of Estates and the Distribution of Wealth: Evidence from the Dead

Yonatan Berman and Salvatore Morelli ()

No n5rvc, SocArXiv from Center for Open Science

Abstract: Detailed information about the distribution of estates left at death has commonly served as the basis for the estimation of wealth distributions among the living via the mortality multiplier method. The application of detailed mortality rates by demographics and other determinants of mortality is crucial for obtaining an unbiased representation of the wealth distribution of the living. Yet, in this paper we suggest that a simplified mortality multiplier method, derived using average mortality rates and aggregate tabulations by estate size, may be sufficient to derive compelling estimates of wealth concentration. We show that the application of homogeneous multipliers leads to estimates that are close in level and trend to the concentration of wealth derived in the existing literature with the detailed mortality multiplier method for a variety of countries. The use of mortality rates graduated by estate size does not confute this finding. We also derive the general formal conditions for the similarity between the distributions of wealth of the living and estates at death and discuss the main caveats. These findings may unlock a wide array of aggregate estate tabulations, previously thought to be unusable, for estimating historical trends of wealth concentration. (Stone Center on Socio-Economic Inequality Working Paper Series)

Date: 2021-03-22
New Economics Papers: this item is included in nep-dem
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6) Track citations by RSS feed

Downloads: (external link)
https://osf.io/download/60590062c402cc0208979a7c/

Related works:
Chapter: On the Distribution of Estates and the Distribution of Wealth: Evidence from the Dead (2021) Downloads
Working Paper: On the Distribution of Estates and the Distribution of Wealth: Evidence from the Dead (2021) Downloads
Working Paper: On the Distribution of Estates and the Distribution of Wealth: Evidence from the Dead (2021) Downloads
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: https://EconPapers.repec.org/RePEc:osf:socarx:n5rvc

DOI: 10.31219/osf.io/n5rvc

Access Statistics for this paper

More papers in SocArXiv from Center for Open Science
Bibliographic data for series maintained by OSF ().

 
Page updated 2022-06-18
Handle: RePEc:osf:socarx:n5rvc