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Households wealth account distribution since 1995

Banque de France - PARIS - 2020

Wealth inequality is a major public policy issue. While the academia has been working on this topic over the past 20 years, the toolbox of public administration to measure and apprehend this phenomenon lags behind and is not sufficient to tackle this issue. Ineed, only the HFCS survey provides an overview of households’ wealth. Yet the survey is not enough by itself, as there is a 30% gap between the results of the HFCS survey and national account data. In order to address thiis problem, the European Central Bank, in cooperation with national central banks of the euro area, has launched an initiative to create harmonized distributional national accounts by country based on HFCS survey results and national account data. In order to achieve this objective, the use of fiscal data to supplement existing survey and national account data is of the uttermost importance.