Is the Top Tail of the Wealth Distribution the Missing Link between the Household Finance and Consumption Survey and National Accounts?

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dc.contributor University of Helsinki, Centre for Consumer Society Research en
dc.contributor.author Chakraborty, Robin
dc.contributor.author Kavonius, Ilja Kristian
dc.contributor.author Pérez-Duarte, Sébastien
dc.contributor.author Vermeulen, Philip
dc.date.accessioned 2019-04-12T14:05:01Z
dc.date.available 2019-04-12T14:05:01Z
dc.date.issued 2019-03-26
dc.identifier.citation Chakraborty , R , Kavonius , I K , Pérez-Duarte , S & Vermeulen , P 2019 , ' Is the Top Tail of the Wealth Distribution the Missing Link between the Household Finance and Consumption Survey and National Accounts? ' , Journal of Official Statistics , vol. 35 , no. 1 , pp. 31-65 . https://doi.org/10.2478/jos-2019-0003 en
dc.identifier.issn 0282-423X
dc.identifier.other PURE: 123633812
dc.identifier.other PURE UUID: 58bdf9f8-61a2-4ecb-b595-3f92ca6a4796
dc.identifier.other WOS: 000462487300003
dc.identifier.other ORCID: /0000-0002-6621-8809/work/56406122
dc.identifier.uri http://hdl.handle.net/10138/300867
dc.description.abstract The financial accounts of the household sector within the system of national accounts report the aggregate asset holdings and liabilities of all households within a country. In principle, when household wealth surveys are explicitly designed to be representative of all households, aggregating these microdata should correspond to the macro-aggregates. In practice, however, differences are large. We first discuss conceptual and generic differences between those two sources of data. Thereafter, we investigate missing top tail observation from wealth surveys as a source of discrepancy. By fitting a Pareto distribution to the upper tail, we provide an estimate of how much of the gap between the micro- and macrodata is caused by the underestimation of the top tail of the wealth distribution. Conceptual and generic differences, as well as missing top tail observations, explain part of the gap between financial accounts and survey aggregates. fi
dc.format.extent 35
dc.language.iso eng
dc.relation.ispartof Journal of Official Statistics
dc.rights en
dc.subject 511 Economics en
dc.subject financial accounts en
dc.subject HFCS en
dc.subject wealth inequality en
dc.subject Pareto distribution en
dc.subject households en
dc.title Is the Top Tail of the Wealth Distribution the Missing Link between the Household Finance and Consumption Survey and National Accounts? en
dc.type Article
dc.description.version Peer reviewed
dc.identifier.doi https://doi.org/10.2478/jos-2019-0003
dc.type.uri info:eu-repo/semantics/other
dc.type.uri info:eu-repo/semantics/publishedVersion
dc.contributor.pbl
dc.contributor.pbl

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