THE SIZE DISTRIBUTION OF PERSONAL WEALTH IN THE REPUBLIC OF IRELAND¹

Abstract

This paper presents the results of applying the mortality multiplier approach to estate duty statistics in order to estimate the size distribution of personal wealth in the Republic of Ireland. It commences with an examination of the limitations of the estate duty statistics, a discussion of the problems involved in collecting the data, and a short consideration of the mortality multipliers used. Estimates are presented for the size distribution of personal wealth, and the distribution of wealth between age groups. Some comparisons are given with wealth in Northern Ireland, Great Britain and the U.S.A. Estimates of the components of personal capital were not found possible. Finally, preliminary estimates are made for the distribution of wealth among married and single persons, in order to provide the basis for an analysis of wealth possessed by wealth‐owning units (defined as single males, single females and married couples). By making extreme assumptions, upper and lower limits are placed on the actual pattern of the size distribution of wealth by wealth‐owning units.

The Inequality of Wealth I N Britain's North American Colonies: The Importance of the Relatively Poor

“…In spirit, the present study is very similar to that of Jones (1972Jones ( , 1980 and we share with Jones the problem that we can only identify the probability of mortality that is associated with age and sex, and cannot distinguish any differential effects of occupation or social class.4 See, for example, Mendershausen (1956), Lampman (1962), Lyons (1972), McGrath (1982, Smith (1974)-as well as, of course, Jones (1972Jones ( , 1980.…”

“…The wealth of nonprobate type households has simply not been recorded, hence we cannot know directly its amount. Although the literature on wealth distribution contains numerous examples of the assumption that non-probates have zero wealth (see Lyons, 1974, 1975or Easton, 1980, one cannot check directly whether this assumption is more realistic than our "BEST" or a Jones-type methodology. However, one can check which methodology is more or less consistent with other historical evidence on aggregate growth or qualitative descriptions of changes in living standards.…”

The Size Distribution of Personal Wealth in France (1977): A First Attempt at the Estate Duty Method

“…Thus the comparisons which are provided below are only illustrative, and no precise conclusions should be drawn from them, but the classification, even if not very specific, is not necessarily wrong. The Irish data are from Lyons (1974), the Belgian data are from Walravens and Praet (forthcoming), the United States data from Smith (1982), the Swedish from SpHnt (1979) and the British data from Atkinson and Harrison (1978).…”

“…Surprisingly enough, this method has never been used with French data, whilst the first usage in Britain is more than fifty years old.' Another major study was published in the mid-thirties by Daniels and Campion (1936), and new interest in the topic appears after the war with studies by Langley (1950 and 1951), Lydall and Tipping (1961), and more recently, by Lyons (1974) for Ireland, Smith (1974) for the United States, and Atkinson (1975) for Britain.In France, a great deal of interest has been devoted to balance sheets of the household sector (see Benedetti, Consolo and Fouquet, 1979), which are now fully consistent with the flow accounts. As far as size distribution is concerned, however, the only estimates come from sample surveys which were made in 1975, 1977and 1980 (see Strauss-Kahn, 1979.…”

“…Surprisingly enough, this method has never been used with French data, whilst the first usage in Britain is more than fifty years old.' Another major study was published in the mid-thirties by Daniels and Campion (1936), and new interest in the topic appears after the war with studies by Langley (1950 and 1951), Lydall and Tipping (1961), and more recently, by Lyons (1974) for Ireland, Smith (1974) for the United States, and Atkinson (1975) for Britain.…”