Inequalities and the individualization of wealth

Frémeaux, Nicolas; Leturcq, Marion

doi:10.1016/j.jpubeco.2020.104145

Cited by 39 publications

(53 citation statements)

References 30 publications

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“…They succeeded in about 90 percent of the cases, and we have access to all matched records. 7 The HSBC leak has a number of key strengths for our purposes. First, it was not the result of specific enforcement effort by tax authorities and can be seen as a random event.…”

Section: A Hsbc Switzerland Leakmentioning

confidence: 99%

“…Importantly, there is no evidence that it was the "go-to" place for Scandinavians to park their wealth. A country-by-country breakdown of the 7 Some of the unmatched accounts could belong to tax evaders (e.g., accounts owned by shell companies with Scandinavian attorneys, but whose beneficial owners were not known or recorded by HSBC) or to legitimate organizations (e.g., financial institutions or nonprofit organizations). If these untraceable accounts are used by the wealthiest tax evaders, we underestimate the concentration of tax evasion.…”

Section: A Hsbc Switzerland Leakmentioning

confidence: 99%

“…HSBC Evaders, Panama Papers Individuals, and Amnesty Participants, by Wealth Group Columns 1,5,7,and 11 show the fraction of all households who evaded taxes at HSBC Switzerland, who are in the Panama Papers, or who used a tax amnesty to voluntarily disclose hidden wealth, by wealth group. For HSBC, our sample pools Norwegian, Swedish, and Danish households; therefore wealth groups are defined relative to Scandinavia as a whole (Norway, Sweden, plus Denmark).…”

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confidence: 99%

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Tax Evasion and Inequality

Alstadsæter

Johannesen

Zucman

2019

American Economic Review

312

100

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Drawing on a unique dataset of leaked customer lists from offshore financial institutions matched to administrative wealth records in Scandinavia, we show that offshore tax evasion is highly concentrated among the rich. The skewed distribution of offshore wealth implies high rates of tax evasion at the top: we find that the 0.01 percent richest households evade about 25 percent of their taxes. By contrast, tax evasion detected in stratified random tax audits is less than 5 percent throughout the distribution. Top wealth shares increase substantially when accounting for unreported assets, highlighting the importance of factoring in tax evasion to properly measure inequality. (JEL D31, H24, H26, K34)

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Section: A Hsbc Switzerland Leakmentioning

confidence: 99%

Section: A Hsbc Switzerland Leakmentioning

confidence: 99%

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confidence: 99%

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Tax Evasion and Inequality

Alstadsæter

Johannesen

Zucman

2019

American Economic Review

312

100

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“…La tendance à l'individualisation reste de la même ampleur quand les dettes sont prises en compte. Pour plus de détails, voir Frémeaux et Leturcq (2019). 2.…”

Section: Reconstruire Le Patrimoine Individuel Au Sein Du Coupleunclassified

“…En effet, les biens immobiliers étant plus souvent détenus de manière jointe, une hausse de la valeur de ces biens tend à augmenter la part des biens détenus conjointement. Pour plus de détails, voir Frémeaux et Leturcq (2019). l'autre. L'évolution des modes de vie en couple explique la plus grande partie de l'individualisation du patrimoine pour tous les groupes d'âge, mais dans une proportion variable.…”

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Individualisation du patrimoine au sein des couples : quels enjeux pour la fiscalité ?

Frémeaux¹,

Leturcq²

2019

Revue De l'OFCE

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Marion Leturcq INEDNous montrons dans cet article que la manière dont le patrimoine est détenu au sein des couples a profondément évolué au cours de la période 1998-2010, conduisant à une individualisation du patrimoine et à une augmentation des inégalités de patrimoine au sein des couples. Celles-ci accompagnent les changements majeurs dans les modes de vie en couple : généralisation de la cohabitation hors mariage, essor du Pacs comme alternative au mariage et recours plus fréquent à un contrat de mariage, qui ont pour conséquence une séparation du patrimoine au sein des ménages. Nous montrons ensuite que cette tendance à l'individualisation du patrimoine au sein des couples n'a cependant pas été prise en compte dans le système fiscal, qui tend à faire l'hypothèse d'une mise en commun des ressources au sein des ménages. Ce phénomène invite à se questionner sur les principes de justice qui sous-tendent l'imposition du patrimoine des couples, que ce soit à travers les revenus, la détention ou la transmission des patrimoines. La fiscalité actuelle fait preuve d'incohérences dans le traitement fiscal des couples. L'objet de cet article est de documenter ces faits et d'ouvrir des pistes de réflexions.

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Wealth Inequalities

König

Schröder

Wolff

2020

Handbook of Labor, Human Resources and Population Economics

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In many countries, wealth is highly concentrated, much more so than income. This review presents the long run trend of wealth inequality since the 1990s. Subsequently, it discusses the multitude of available datasets documenting and investigating wealth inequality and then critically evaluates the benefits and drawbacks of each. Following, an overview on descriptive studies of wealth inequality with a focus on augmented and pension wealth, portfolio composition, and intergenerational transmission is provided. Finally, the review details developments in structural models that explain the concentration of wealth. The evidence points to a sharp rise of wealth inequality beginning in the early 1990s through the mid-2010s in the United States. However, recent trends differ, for example, for Sweden and the United Kingdom. The last two decades have witnessed a virtual explosion of datasets on household wealth, including, notably, new internationally conformable databases such as the World Inequality Database, the Luxembourg Wealth Study Database, the Household Finance and Consumption Survey, and new administrative data from Nordic countries. The possibility to combine different datasets via record linkage or statistical matching further enlarges their research potential. Several new studies have expanded the concept of wealth from conventional marketable wealth to augmented wealth including pension and social security wealth. On the theoretical front, new modeling approaches have been devised to account for the extreme skewness in wealth distributions, including the introduction of heterogeneous rates of return by wealth class.

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Inequalities and the individualization of wealth

Cited by 39 publications

References 30 publications

Tax Evasion and Inequality

Tax Evasion and Inequality

Individualisation du patrimoine au sein des couples : quels enjeux pour la fiscalité ?

Wealth Inequalities

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