Page 324 - Special Topic Session (STS) - Volume 1

STS441 Andrea N.
Table 1 – comparison between results of alternative estimation methods
FR IT DE FI
1
HFCS N. households 861,196 650,893 1,168,432 49,560
above w 0(1)
Top 10% (2) 49.4% 42.3% 57.5% 41.4%
debt to fin. assets 0.99 0.29 0.62 0.81
(top quintile)
Gini index 0.66 0.60 0.74 0.59
Proportional households above 1,789,261 1,457,439 1,656,712 37,101
method w 0 (1)
Top 10% (2) 52.3% 52.2% 58.9% 51.5%
debt to fin. assets 0.49 0.19 0.44 0.60
(top quintile)
Gini index 0.67 0.64 0.72 0.70

Simultaneous households above 1,686,232 1,261,837 1,694,376 46,000
Pareto- w 0 (1)
calibration
allocation
Top 10% (2) 60.1% 62.3% 67.4% 39.2%
debt to fin. assets 0.50 0.22 0.44 0.57
(top quintile)
Gini index 0.71 0.73 0.78 0.67
(1) Estimated number of households after the wealth threshold, by net wealth. Pareto
wealth threshold 0 set at 1mln EUR. (2) Wealth share of the top 10 percentile. Top %
shares are computed with the HFCS total as the reference (which, in the Pareto
adjusted survey, is very close to the FA total). Source: Final report EG-LMM

Table 2. Share of total debt owned by wealth quintile

Quintiles of gross wealth
Method

1° 2° 3° 4° 5°
HFCS-IT 2% 7% 23% 30% 39%
Proportional allocation 2% 10% 26% 29% 33%
Simultaneous Pareto-calibration allocation 0.1% 4% 14% 25% 56%
Administrative data* 0.1% 4% 11% 20% 64%
*Credit register; provisional data

1 Based on the period in which HFCS interviews have been conducted, the data have been
compared with FA data at end 2014 for DE, FR and IT, and end-2013 for FI.
313 | I S I W S C 2 0 1 9