Skip to Main content Skip to Navigation
Preprints, Working Papers, ...

Top Wealth Shares in the UK over more than a Century

Abstract : Recent research highlighted controversy about the evolution of concentration of personal wealth. In this paper we provide new evidence about the long-run evolution of top wealth shares for the United Kingdom. The new series covers a long period – from 1895 to the present – and has a different point of departure from the previous literature: the distribution of estates left at death. We find that the application to the estate data of mortality multipliers to yield estimates of wealth among the living does not substantially change the degree of concentration over much of the period both, in the UK and US, allowing inferences to be made for years when this method cannot be applied. The results show that wealth concentration in the UK remained relatively constant during the first wave of globalization, but then decreased dramatically in the period from 1914 to 1979. The UK went from being more unequal in terms of wealth than the US to being less unequal. However, the decline in UK wealth concentration came to an end around 1980, and since then there is evidence of an increase in top shares, notably in the distribution of wealth excluding housing in recent years. We investigate the triangulating evidence provided by data on capital income concentration and on reported super fortunes.
Document type :
Preprints, Working Papers, ...
Complete list of metadatas

Cited literature [3 references]  Display  Hide  Download

https://halshs.archives-ouvertes.fr/halshs-02658784
Contributor : Caroline Bauer <>
Submitted on : Saturday, May 30, 2020 - 12:52:19 PM
Last modification on : Tuesday, September 22, 2020 - 3:55:02 AM

File

2017-02_.pdf
Files produced by the author(s)

Identifiers

  • HAL Id : halshs-02658784, version 1

Collections

Citation

Facundo Alvaredo, Anthony Atkinson, Salvatore Morelli. Top Wealth Shares in the UK over more than a Century. 2017. ⟨halshs-02658784⟩

Share

Metrics

Record views

56

Files downloads

95