Re-estimating national wealth inequality with incorporating the rich lists in China

Bibliographic Data

ID6045467
AuthorsChuliang Luo (0000-0001-8560-3641, Renmin University of China, corresponding author), Guoqiang Chen (0000-0002-6094-7883), Guo‐Qiang Chen (0000-0002-7226-1782, Northwest Normal University)
Year2021
Volume1
Issue4
Pages295-307
Publication date2021-12-01
Open AccessYes
TypeARTICLE
VenueChina Economic Quarterly International (JOURNAL)
Journal identifiersISSN: 2666-9331 • E-ISSN: 2666-9331
PublisherElsevier BV (PUBLISHER)
DOI10.1016/j.ceqi.2021.11.001
OpenAlexW3215870385
LanguageEN
Citations received1
References cited8

Using the two annual rich lists of Forbes and Hurun, this study estimated the parameters of Pareto distribution to describe the features of the top tail of the wealth distribution. The wealth inequality for the whole population was re-estimated by the combination of estimated Pareto distribution and household surveys, CHIP2013, CFPS2012 and CFPS2016. The robustness of estimated Pareto coefficients and the possibility of the rich missing from the lists were also discussed in detail. The wealth inequality for the whole population was estimated at different assumptions on the combination of the top tail of wealth distribution and the household survey. The wealth Gini in the CHIP and CFPS data were as high as 0.619 and 0.736. The estimated wealth Gini minorly increased by the combination with the top tail of wealth distribution by the relative criterion, while exceeded 0.8 by the absolute criterion

Biology · Distribution of wealth · Econometrics · Economic inequality · Economics · Extreme value theory · Generalized Pareto distribution · Gini coefficient · Inequality · Pareto distribution · Pareto interpolation · Pareto principle · Population · Sociology · Statistics · Wealth distribution · Demography · Income, Poverty, and Inequality · Mathematics

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