Wealth survey calibration using income tax data
Identifikátory výsledku
Kód výsledku v 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>
Výsledek na webu
<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>
Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
Wealth survey calibration using income tax data
Popis výsledku v původním jazyce
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.
Název v anglickém jazyce
Wealth survey calibration using income tax data
Popis výsledku anglicky
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.
Klasifikace
Druh
J<sub>imp</sub> - Článek v periodiku v databázi Web of Science
CEP obor
—
OECD FORD obor
50201 - Economic Theory
Návaznosti výsledku
Projekt
—
Návaznosti
S - Specificky vyzkum na vysokych skolach
Ostatní
Rok uplatnění
2025
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Údaje specifické pro druh výsledku
Název periodika
International Tax and Public Finance
ISSN
0927-5940
e-ISSN
1573-6970
Svazek periodika
32
Číslo periodika v rámci svazku
3
Stát vydavatele periodika
NL - Nizozemsko
Počet stran výsledku
41
Strana od-do
741-781
Kód UT WoS článku
001236523800001
EID výsledku v databázi Scopus
2-s2.0-85194900562