ECB paper finds rich to be richer than previously thought

Working paper uses rich lists to estimate wealth concentration

nov2013-gift-wealth-management-package

A working paper from a European Central Bank economist claims to provide a method of measuring the concentration of wealth with the richest households that "greatly reduces the bias" caused by the fact that richer households respond less to surveys than do poorer households.

In How fat is the top tail of the wealth distribution?, Philip Vermeulen combines survey data with data from rich lists and uses them jointly to estimate a Pareto (power-law) distribution for tail wealth. His paper combines

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