TY  - JOUR
A1  - Bach, Stefan
A1  - Thiemann, Andreas
A1  - Zucco, Aline
T1  - Looking for the missing rich: tracing the top tail of the wealth distribution
JF  - International Tax and Public Finance
N2  - We analyse the top tail of the wealth distribution in France, Germany, and Spain using the first and second waves of the Household Finance and Consumption Survey (HFCS). Since top wealth is likely to be under-represented in household surveys, we integrate big fortunes from rich lists, estimate a Pareto distribution, and impute the missing rich. In addition to the Forbes list, we rely on national rich lists since they represent a broader base of the big fortunes in those countries. As a result, the top 1% wealth share increases notably for the three selected countries after imputing the top wealth. We find that national rich lists can improve the estimation of the Pareto coefficient in particular when the list of national USD billionaires is short.
KW  - Wealth distribution
KW  - Missing rich
KW  - Pareto distribution
KW  - HFCS
Y1  - 2019
U6  - https://doi.org/10.1007/s10797-019-09578-1
SN  - 0927-5940
SN  - 1573-6970
VL  - 26
IS  - 6
SP  - 1234
EP  - 1258
PB  - Springer
CY  - Dordrecht
ER  -