2018

Wealth Inequality in Sweden: What Can We Learn from Capitalized Income Tax Data?

Reprint No. 2018:58

Author(s): Jacob Lundberg and Daniel WaldenströmYear: 2018 Title: Review of Income and Wealth Volume (No.): 64 (3) Pages: 517–541
Online article (restrictions may apply)
Preliminary version


This paper presents new estimates of wealth inequality in Sweden during 2000–2012, linking wealth register data up to 2007 and individually capitalized wealth based on income and property tax registers for the period thereafter when a repeal of the wealth tax stopped the collection of individual wealth statistics. We find that wealth inequality increased after 2007 and that more unequal bank holdings and housing appear to be important drivers. We also evaluate the performance of the capitalization method by contrasting its estimates and their dispersion with observed stocks in register data up to 2007. The goodness‐of‐fit varies tremendously across assets and we conclude that although capitalized wealth estimates may well approximate overall inequality levels and trends, they are highly sensitive to assumptions and the quality of the underlying data sources.


Reference:
Lundberg, Jacob and Daniel Waldenström (2018), "Wealth Inequality in Sweden: What Can We Learn from Capitalized Income Tax Data?". Review of Income and Wealth 64(3), 517–541.

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