Replication data for: Wealth Concentration in a Developing Economy: Paris and France, 1807-1994
Principal Investigator(s): View help for Principal Investigator(s) Thomas Piketty; Gilles Postel-Vinay; Jean-Laurent Rosenthal
Version: View help for Version V1
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Project Citation:
Piketty, Thomas, Postel-Vinay, Gilles, and Rosenthal, Jean-Laurent. Replication data for: Wealth Concentration in a Developing Economy: Paris and France, 1807-1994. Nashville, TN: American Economic Association [publisher], 2006. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-06. https://doi.org/10.3886/E116081V1
Project Description
Summary:
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Using large samples of estate tax returns, we construct new series on wealth concentration in Paris and France from 1807 to 1994. Inequality increased until 1914 because industrial and financial estates grew dramatically. Then, adverse shocks, rather than a Kuznets-type process, led to a massive decline in inequality. The very high wealth concentration prior to 1914 benefited retired individuals living off capital income (rentiers) rather than entrepreneurs. The very rich were in their seventies and eighties, whereas they had been in their fifties a half century earlier and would be so again after World War II. Our results shed new light on ongoing debates about wealth inequality and growth.
Scope of Project
JEL Classification:
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D31 Personal Income, Wealth, and Their Distributions
N33 Economic History: Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy: Europe: Pre-1913
N34 Economic History: Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy: Europe: 1913-
D31 Personal Income, Wealth, and Their Distributions
N33 Economic History: Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy: Europe: Pre-1913
N34 Economic History: Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy: Europe: 1913-
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