Wealth survey calibration using income tax data
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F25%3A10514032" target="_blank" >RIV/00216208:11230/25:10514032 - isvavai.cz</a>
Result on the web
<a href="https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=1XZtf8RgrR" target="_blank" >https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=1XZtf8RgrR</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1007/s10797-024-09849-6" target="_blank" >10.1007/s10797-024-09849-6</a>
Alternative languages
Result language
angličtina
Original language name
Wealth survey calibration using income tax data
Original language description
Wealth surveys tend to underestimate wealth concentration at the top due to the "missing rich" problem. I propose a new way of improving the credibility of wealth surveys by making them consistent with tabulated income tax data. This is possible with the harmonized triannual Household Finance and Consumption Survey (HFCS), which collects data on both income and wealth. I achieve consistency by calibrating survey weights using the income part of HFCS. I apply the calibration method of Blanchet et al. (J Econ Inequal 20(1):119-150, 2022b) in a new context and propose a new, intuitive way to determine the merging point where the calibration starts. I then use the calibrated weights with HFCS wealth values. Tested on Austria, calibration aligns the survey totals closer to the National Accounts, with wealth inequality increasing in the second and third survey waves. I also find a strong downward bias in the Austrian HFCS income distribution. Following the calibration, I test other top tail adjustments: replacing the survey top tail with a Pareto distribution and combining the data with a magazine rich list.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50201 - Economic Theory
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2025
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
International Tax and Public Finance
ISSN
0927-5940
e-ISSN
1573-6970
Volume of the periodical
32
Issue of the periodical within the volume
3
Country of publishing house
NL - THE KINGDOM OF THE NETHERLANDS
Number of pages
41
Pages from-to
741-781
UT code for WoS article
001236523800001
EID of the result in the Scopus database
2-s2.0-85194900562