scholarly journals The Concentration of Personal Wealth in Italy 1995–2016

2021 ◽  
Author(s):  
Paolo Acciari ◽  
Facundo Alvaredo ◽  
Salvatore Morelli
Keyword(s):  
Adult Population ◽  
Household Survey ◽  
Household Wealth ◽  
National Accounts ◽  
Italian Economy ◽  
Balance Sheets ◽  
Working Paper ◽  
Wealth Concentration ◽  
Personal Wealth

Italy is one the countries with the highest wealth-to-income ratio in the developed world. Yet, despite the growing policy interest, knowledge about the size distribution of wealth is currently limited. In this paper we expand our windows of observation on the distribution of personal wealth using a novel source on the full record of inheritance tax files. The data cover up to 63% of the deceased population and are available between 1995 and 2016, a period of substantial economic turbulence and structural reform for the Italian economy. Our benchmark results rely on the distribution of the net wealth observed in the National Accounts balance sheets. Unlike available statistics estimated from household survey data, our results point to a strong rise in wealth concentration and inequality since the mid-1990s. Whereas the level of wealth concentration in Italy is in line with those of other European countries, its time trend appears more in line with the U.S. experience. Moreover, Italy stands out as one of the countries with the strongest decline in the wealth share of the bottom 50% of the adult population. We explore the role of household wealth portfolios, accumulation patterns during the life cycle, and inheritance flows, its concentration, and taxation patterns as main drivers of the trends observed. A range of alternative series of wealth concentration helps us better understand the role of adjustments and imputations and is based on a multi-series approach, i.e., comparing the pieces of information given by different and competing sources. (Stone Center on Socio-Economic Inequality Working Paper)

scholarly journals Between communism and capitalism: long-term inequality in Poland, 1892–2015

2021 ◽  
Author(s):  
Paweł Bukowski ◽  
Filip Novokmet
Keyword(s):  
Household Survey ◽  
National Accounts ◽  
Capital Income ◽  
Sharp Rise ◽  
Long Run ◽  
History Of ◽  
Low Levels ◽  
Distribution Of Income

AbstractWe construct the first consistent series on the long-term distribution of income in Poland by combining tax, household survey and national accounts data. We document a U-shaped evolution of inequalities from the end of the nineteenth century until today: (1) inequality was high before WWII; (2) abruptly fell after the introduction of communism in 1947 and stagnated at low levels during the whole communist period; (3) experienced a sharp rise with the return to capitalism in 1989. We find that official survey-based measures strongly under-estimate the rise in inequality since 1989. Our results highlight the prominent role of capital income in driving the U-shaped evolution of top income shares. The unique inequality history of Poland speaks to the central role of institutions and policies in shaping inequality in the long run.

ters or direct labor hours). This method allowed cost prices to be determined at each successive stage of the production process. The addition of the charges incurred at one level of production to the previous charges provided the cost of the product at that par­ ticular production level. However, since the method did not pro­ vide the original breakdown of the various cost components, com­ ponents had to be recomputed on a separate schedule. The homo­ geneous sections method was adopted in the plan for cost compu­ tations because it allowed precise calculations, and afforded great possibilities of application to various situations. Another characteristic related to product costing introduced in the French Plan was the use of mirror or contra-accounts which allowed product costs to be computed without altering expense accounts. In fact, charges were debited to the appropriate cost accounts by crediting contra-accounts, which preserved the infor­ mation registered in financial accounting’s expense accounts while ensuring the identity of the information carried from financial accounts to cost accounts. Second, the rational classification (discussed in the next sec­ tion) which had developed in France in the 1920s [CNOF, 1946, p. 46] and which, by the 1940s, had been widely adopted by the majority of French enterprises for their balance sheets [CNOF, 1946, p. 23] inspired the 1942 Plan's standard balance sheet. How­ ever, the rational classification was not retained for the 1942 Plan’s chart of accounts since it was inspired by the German chart. The 1942 Plan was mainly criticized for its lack of logic and its complexity, and for being overly oriented toward the determi­ nation of financial results for external purposes, and of product costs for internal and external pricing of products. Not enough attention was paid to the role of accounting in the daily manage­ ment of operations [Brunet, 1951, pp. 252-253]. The other major criticism addressed to the Plan concerned the duality of the operations account and the profit and loss ac­ count, stemming from the possibility of classifying expenses either by nature or by function depending on whether the cost classes (5, 6 and 7) were used or not. This situation deprived national ac­ countants of valuable information needed in the preparation of national accounts [Brunet, 1951, p. 2521. As will be seen in a later section, this criticism was taken into account in the drafting of the 1947 Plan. An official adaptation of the 1942 Plan was only produced for the aeronautic industry. However, Brunet [1951, p. 254] mentions that a number of major companies also adopted the general plan,

2014 ◽  
pp. 341-341
Keyword(s):  
Balance Sheet ◽  
National Accounts ◽  
Balance Sheets ◽  
Product Costing ◽  
General Plan ◽  
Operations Account ◽  
The Cost ◽  
Product Costs ◽  
Rational Classification

scholarly journals The Role of Credit on the Evolution of Wealth Inequality in the USA

2020 ◽  
Author(s):  
Rodolfo Oviedo Moguel
Keyword(s):  
Wealth Inequality ◽  
Household Wealth ◽  
Borrowing Constraints ◽  
Saving Rate ◽  
Heterogeneous Agent ◽  
Agent Model ◽  
Labor Earnings ◽  
Wealth Concentration ◽  
The Usa

In the USA, the share of household wealth held by the richest 1% increased from 23.5% in 1980 to 41.8% in 2012. This paper contributes to understanding the causes behind this increase. First, using an accounting decomposition, I show that more than half of the increase in the share of the top 1% can be attributed to a decrease in the saving rate of the bottom 99%. Second, using a heterogeneous agent model, I show that the decrease in the saving rate of the bottom groups cannot be rationalized by the reduction in the progressively of taxation or changes in the volatility and concentration of labor earnings. Lastly, I introduce a shock to the credit market into the model in the form of loosening the borrowing constraints of the economy. This shock can simultaneously match the increase in wealth concentration and the decrease of the saving rate of the economy.

scholarly journals Chasing the Tail: A Generalized Pareto Distribution Approach to Estimating Wealth Inequality

2021 ◽  
Author(s):  
Arthur B. Kennickell
Keyword(s):  
Pareto Distribution ◽  
Wealth Distribution ◽  
Estimation Method ◽  
Generalized Pareto Distribution ◽  
Wealth Inequality ◽  
Household Wealth ◽  
National Accounts ◽  
Working Paper ◽  
External Data ◽  
Generalized Pareto

Since the work reported in Vermeulen [2018], a literature has developed on using the simple Pareto distribution along with “rich list” information to make improved estimates of the upper tail of the wealth distribution measured in surveys. Because the construction of such external data is typically opaque and subject to potentially serious measurement error, it may be best not to depend exclusively on this approach. This paper develops an alternative approach, using the generalized Pareto distribution (GPD), of which the simple Pareto is a subset, extending an estimation strategy developed by Castillo and Hadi [1997]. The greater flexibility of the GPD allows the possibility of modeling the tail of the wealth distribution, using a larger set of data for support than is typically the case with the simple Pareto. Moreover, the elaboration of the estimation method presented here allows explicitly for the possibility that the extreme of the observed upper tail is measured with error or that it is not captured at all. The approach also allows the incorporation of external data on total wealth as a constraint on the estimation. For the applications considered here using Austrian and U.S. micro data, the model relies on an estimate of total household wealth from national accounts, rather than rich-list information. The results suggest that where sufficiently comparable and reliable estimates of aggregate wealth are available, this approach can provide a useful way of mitigating problems in comparing distributional estimates across surveys that differ meaningfully in their effective coverage of the upper tail of the wealth distribution. The approach may be particularly useful in the construction of distributional national accounts. (Stone Center on Socio-Economic Inequality Working Paper)

scholarly journals Intersectional role of paternal gender-equitable attitudes and maternal empowerment in child undernutrition: a cross-sectional national study from India

BMJ Open ◽  
2021 ◽  
Vol 11 (8) ◽  
pp. e047276
Author(s):  
Anupam Joya Sharma ◽  
Malavika Ambale Subramanyam
Keyword(s):  
Gender Equity ◽  
Household Survey ◽  
Household Wealth ◽  
Exclusion Criterion ◽  
National Study ◽  
Cross Sectional ◽  
Lower Odds ◽  
Severe Stunting ◽  
Child Undernutrition

ObjectivesTo investigate the role of the intersection of maternal empowerment, paternal gender-equitable attitudes, and household wealth in stunting and severe stunting among underfives in India.DesignCross-sectional study.SettingCommunity-based setting, nationally representative household survey from India.ParticipantsWe used a sample of 22 867 mother–father–child triads from the fourth round of India’s National Family Health Survey (2015–2016). Our inclusion criterion was children below the age of 5 years. The exclusion criterion was a lack of information on paternal gender-equitable attitudes and maternal empowerment. Observations with missing data on any of the covariates were also excluded.Primary outcomeStunting and severe stunting among underfives in India.ResultsOur survey-adjusted logistic regression models revealed that even among children from poorer households, those with either an empowered mother or a father with gender-equitable attitudes versus those with none such parents, had a lower odds of stunting (adjusted OR (AOR): 0.92, 95% CI: 0.84 to 1.02) and severe stunting (AOR: 0.87, 95% CI: 0.77 to 0.98), independent of all covariates. We also found substantially lower odds of severe stunting in groups with parental concordance in a woman-friendly outlook, whether non-affluent (AOR: 0.80, 95% CI: 0.67 to 0.94) or affluent (AOR: 0.50, 95% CI: 0.38 to 0.67).ConclusionWe argue that while women’s autonomy could reduce the risk of child undernutrition, focusing on men’s attitudes towards gender equity also holds promise for reducing undernutrition. Our findings not only underscore how patriarchy is embodied in undernourished children, but also suggest programmatic interventions to address this deep-rooted scourge in India.

The Role of Migration in the Formation of Regional Labour Markets Amidst the Second Wave of Depopulation in Modern Russia

2020 ◽  
Vol 27 (6) ◽  
pp. 26-36
Author(s):  
A. V. Topilin ◽  
A. S. Maksimova
Keyword(s):  
Labour Market ◽  
Oil And Gas ◽  
Labour Markets ◽  
Labour Migration ◽  
Sample Surveys ◽  
Balance Sheets ◽  
Permanent Migration ◽  
Regional Labour Markets ◽  
The Impact

The article reflects the results of a study of the impact of migration on regional labour markets amidst a decline in the working-age population in Russia. After substantiating the relevance of the issues under consideration, the authors propose a methodological analysis toolkit, the author’s own methodology for calculating the coefficients of permanent long-term external and internal labour migration in regional labour markets, and the coefficient of total migration burden. In addition, the authors provide an overview of the information and statistical base of the study. According to current migration records, data of Rosstat sample surveys on Russian labour migrants leaving for employment in other regions, regional labour resources balance sheets based on the calculated coefficients of labour market pressures, the authors analyzed the impact of migration on the Russian regional labour markets over the past decade. It revealed an increasing role of internal labour migration in many regions, primarily in the largest economic agglomerations and oil and gas territories. At the same time, the role of external labour migration remains stable and minimum indicators of the contribution of permanent migration to the formation of regional labour markets continue to decrease. It has been established that irrational counter flows of external and internal labour migration have developed, which indicates not only an imbalance in labour demand and supply but also a discrepancy between the qualitative composition of migrants and the needs of the economy. It is concluded that the state does not effectively regulate certain types of migration, considering its impact on the labour market. The authors justified the need for conducting regular household sample surveys according to specific programs to collect information about labour migrants and the conditions for using their labour. In addition to the current migration records, using interregional analysis, this information allows making more informed decisions at the federal and regional levels to correct the negative situation that has developed in the regional labour markets even before the coronavirus pandemic had struck.

Heart failure in an elderly man: where is that coronary?

2021 ◽  
pp. 1-4
Author(s):  
Charlie J. Sang ◽  
Stephen A. Clarkson ◽  
Elizabeth A. Jackson ◽  
Firas Al Solaiman ◽  
Marc G. Cribbs
Keyword(s):  
Heart Failure ◽  
Coronary Artery ◽  
Pulmonary Artery ◽  
Medical Therapy ◽  
Coronary Arteries ◽  
Right Coronary Artery ◽  
Adult Population ◽  
Anomalous Coronary ◽  
Anomalous Coronary Arteries

Abstract Anomalous coronary arteries from the pulmonary artery are uncommon causes of heart failure in the adult population. This case demonstrates the unusual presentation in a patient with anomalous right coronary artery from the pulmonary artery and discusses the complex pathophysiology of this lesion and the role of guideline-directed medical therapy in the management of these patients.

The Future of Aging Research: Should the Focus Be On Not Growing Old or Growing Old Better?

2016 ◽  
Vol 5 (1) ◽  
pp. 65-74
Author(s):  
Debra J. Rose
Keyword(s):  
Scientific Inquiry ◽  
Healthy Lifestyle ◽  
Adult Population ◽  
Life Stages ◽  
Lifestyle Behaviors ◽  
Aging Research ◽  
Negative Stereotypes ◽  
Conducting Research ◽  
Older Adult Population

Despite the significant increase in years that an individual can now expect to live in the 21st century, there is growing evidence that the price for greater longevity may be worsening health due to the higher prevalence of nonfatal but disabling conditions. This sobering news suggests the need for expanded scientific inquiry directed at understanding the multilevel factors that promote or prevent physical activity (PA) participation and the adoption of healthy lifestyle behaviors and the types of intervention strategies that will be most effective in positively changing behavior at different life stages. Fruitful areas of future scientific inquiry include exploring other types and intensities of PA aimed at increasing PA participation while reducing sedentary behavior, better understanding the role of the physical and social environment in promoting PA participation, and designing and evaluating multilevel PA interventions that are better tailored to the activity preferences, goals, and expectations of a diverse older adult population, and flexibly delivered in real-world settings. Finally, conducting research aimed at better differentiating normal age-associated changes from those that are disease-related will be fundamental to reversing the negative stereotypes that currently shape the public’s view of the aging process.

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