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Wealth inequality in Central and Eastern Europe: Evidence from household survey and rich lists’ data combined

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cris.lastimport.scopus2024-02-12T20:50:35Z
dc.abstract.enWe study how the problem of the ‘missing rich’, the underrepresentation of the wealthiest in household surveys, affects wealth inequality estimates for the post‐socialist countries of Central and Eastern Europe (CEE). The survey data from the second wave of the Household Finance and Consumption Survey (HFCS) are joined with the data from the national rich lists for Estonia, Hungary, Latvia, Poland and Slovakia. Pareto distribution is fitted to the joined survey and rich lists’ data to impute the missing observations for the largest wealth values. We provide the first estimates of the top‐corrected wealth inequality for the CEE region in 2013/2014. Despite a short period of wealth accumulation during the post‐1989 market economy period, our adjustment procedure reveals that wealth inequality in the Baltic countries is comparable to that of Germany (one of the most wealth‐unequal countries in Europe), while in Poland and Hungary it has reached levels observed in France or Spain. We discuss possible explanations of these findings with reference to the speed and range of privatization processes, extent of income inequality, and the role of inheritances and wealth taxes in the region.
dc.affiliationUniwersytet Warszawski
dc.affiliation.departmentWydział Nauk Ekonomicznych
dc.contributor.authorBrzeziński, Michał
dc.contributor.authorSałach, Katarzyna
dc.contributor.authorWroński, Marcin
dc.date.accessioned2024-01-26T11:56:19Z
dc.date.available2024-01-26T11:56:19Z
dc.date.issued2020
dc.description.financePublikacja bezkosztowa
dc.description.number4
dc.description.sdgNoPoverty
dc.description.versionfinal_author
dc.description.volume28
dc.identifier.doi10.1111/ECOT.12257
dc.identifier.issn0967-0750
dc.identifier.urihttps://repozytorium.uw.edu.pl//handle/item/124837
dc.identifier.weblinkhttps://onlinelibrary.wiley.com/doi/abs/10.1111/ecot.12257
dc.languageeng
dc.pbn.affiliationeconomics and finance
dc.relation.ispartofEconomics of Transition
dc.relation.pages637-660
dc.rightsCC-BY-NC-ND
dc.sciencecloudnosend
dc.share.typeOPEN_JOURNAL
dc.subject.eninequality
dc.subject.enCentral Eastern Europe
dc.subject.enhousehold wealth
dc.subject.plnierówności
dc.subject.plEuropa Środkowo-Wschodnia
dc.subject.plmajątek gospodarstw domowych
dc.titleWealth inequality in Central and Eastern Europe: Evidence from household survey and rich lists’ data combined
dc.typeJournalArticle
dspace.entity.typePublication