source: https://doi.org/10.7892/boris.65007 | downloaded: 20.3.2021
Trends in Wealth Inequality in Switzerland
Ben Janna and Robert Fluderb
Conference on “The Evolution of Economic and Social Inequalities in Switzerland (and Beyond)”University of Neuchâtel, Switzerland
October 24, 2014
aUniversity of BernbBern University of Applied Sciences
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 1
Overview
Introduction
Development of wealth inequality in Switzerland since 1980
Regional development of wealth inequality
The relation between wealth and income inequality
Some analyses with individual level cantonal tax data
Summary
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 2
Introduction
The discussion on social inequality mainly focusses on income.Wealth inequality is much less debated.
This is astonishing since wealth, apart from income, is a main aspectof the economic situation of households.
Furthermore, the level of wealth inequality is typically much morepronounced than the level of income inequality – and Switzerland, inparticular, appears to be one of leading countries in terms of wealthinequality.
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 3
Introduction
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 4
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 5
Introduction
One reason for the lack of analyses of wealth is that good data onwealth (at the individual level) is rare.
For Switzerland, aggregate tax statistics on the distribution of wealthdo exist for various time points over the last century.
In addition, we collected individual level tax data on wealth fromseveral cantons. These data allow for detailed analyses of the wealthdistribution and also allow for combined analyses of income andwealth.
Tax data are probably the best source for information on wealth.However, there might be bias due to tax evasion. Furthermore, forSwitzerland, retirement savings are not included in the tax data andthe tax value of real estate typically underestimates market value.
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 6
Introduction
Recently, interest in the distribution of wealth has been promoted bythe work of Thomas Piketty who shows that the ratio between capitaland income has risen sharply since World War II. The argument isthat wealth has become more important for the distribution ofresources in modern societies and that self-reinforcing dynamics willlead to increasing concentration in the future.
Wealth is also relevant from the perspective of social mobility. Sinceindividual wealth is largely acquired by inheritance, rising wealthinequality reinforces the intergenerational transmission of socialstatus.
Opportunities for highly profitable investments are better withincreasing capital. Together with the dynamics of inheritance thisleads to increasing capital concentration.
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 7
Wealth inequality trends since 1980
.825.83
.835.84
.845
.33
.34
.35
.36
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
Wealth
Income
Economy
Gini coefficient(wealth)
Wealth percapita (deflated)
Gini coefficient(income)
GDP percapita (PPP)
Swiss MarktIndex (SMI)
Gin
i Coe
ffici
ent
Sou
rce:
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.ch/
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http
://de
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iki/S
wis
s_M
arke
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dex
(SM
I)
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 8
Wealth inequality trends since 1980
0
2
4
6
8
10
12
Wea
lth s
hare
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Distribution
-.2
-.1
0
.1
.2
.3
.4
.5
.6
.7
.8
.9
1
Cha
nge
in w
ealth
sha
re (b
ase
1981
)
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Change since 1981
1981
Sou
rce:
http
://w
ww
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v.ad
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.ch/
doku
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tatio
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 9
Wealth inequality trends since 1980
0
2
4
6
8
10
12
Wea
lth s
hare
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Distribution
-.2
-.1
0
.1
.2
.3
.4
.5
.6
.7
.8
.9
1
Cha
nge
in w
ealth
sha
re (b
ase
1981
)
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Change since 1981
1991
Sou
rce:
http
://w
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v.ad
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.ch/
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 9
Wealth inequality trends since 1980
0
2
4
6
8
10
12
Wea
lth s
hare
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Distribution
-.2
-.1
0
.1
.2
.3
.4
.5
.6
.7
.8
.9
1
Cha
nge
in w
ealth
sha
re (b
ase
1981
)
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Change since 1981
1997
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
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tatio
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0007
6/00
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x.ht
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 9
Wealth inequality trends since 1980
0
2
4
6
8
10
12
Wea
lth s
hare
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Distribution
-.2
-.1
0
.1
.2
.3
.4
.5
.6
.7
.8
.9
1
Cha
nge
in w
ealth
sha
re (b
ase
1981
)
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Change since 1981
2003
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 9
Wealth inequality trends since 1980
0
2
4
6
8
10
12
Wea
lth s
hare
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Distribution
-.2
-.1
0
.1
.2
.3
.4
.5
.6
.7
.8
.9
1
Cha
nge
in w
ealth
sha
re (b
ase
1981
)
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Change since 1981
2004
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 9
Wealth inequality trends since 1980
0
2
4
6
8
10
12
Wea
lth s
hare
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Distribution
-.2
-.1
0
.1
.2
.3
.4
.5
.6
.7
.8
.9
1
Cha
nge
in w
ealth
sha
re (b
ase
1981
)
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Change since 1981
2005
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 9
Wealth inequality trends since 1980
0
2
4
6
8
10
12
Wea
lth s
hare
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Distribution
-.2
-.1
0
.1
.2
.3
.4
.5
.6
.7
.8
.9
1
Cha
nge
in w
ealth
sha
re (b
ase
1981
)
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Change since 1981
2006
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 9
Wealth inequality trends since 1980
0
2
4
6
8
10
12
Wea
lth s
hare
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Distribution
-.2
-.1
0
.1
.2
.3
.4
.5
.6
.7
.8
.9
1
Cha
nge
in w
ealth
sha
re (b
ase
1981
)
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Change since 1981
2007
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 9
Wealth inequality trends since 1980
0
2
4
6
8
10
12
Wea
lth s
hare
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Distribution
-.2
-.1
0
.1
.2
.3
.4
.5
.6
.7
.8
.9
1
Cha
nge
in w
ealth
sha
re (b
ase
1981
)
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Change since 1981
2008
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 9
Wealth inequality trends since 1980
0
2
4
6
8
10
12
Wea
lth s
hare
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Distribution
-.2
-.1
0
.1
.2
.3
.4
.5
.6
.7
.8
.9
1
Cha
nge
in w
ealth
sha
re (b
ase
1981
)
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Change since 1981
2009
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 9
Wealth inequality trends since 1980
0
2
4
6
8
10
12
Wea
lth s
hare
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Distribution
-.2
-.1
0
.1
.2
.3
.4
.5
.6
.7
.8
.9
1
Cha
nge
in w
ealth
sha
re (b
ase
1981
)
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1Cumulative population
Change since 1981
2010
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 9
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
NWSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
NWSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
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inde
x.ht
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
SZSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
SZSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
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075/
0007
6/00
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x.ht
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
ZGSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
ZGSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
ZHSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
ZHSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
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075/
0007
6/00
701/
inde
x.ht
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
AISwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
AISwitzerland
Inequality
Sou
rce:
http
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.est
v.ad
min
.ch/
doku
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6/00
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
BSSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
BSSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
ARSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
ARSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
GESwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
GESwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
price
s)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
OWSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
fficie
nt
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
OWSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
SGSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
SGSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
GRSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
GRSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
TGSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
TGSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
VDSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
VDSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
AGSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
AGSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
LUSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
LUSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
GLSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
GLSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
SHSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
SHSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
BESwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
BESwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
BLSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
BLSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
TISwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
TISwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
URSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
URSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
NESwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
NESwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
VSSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
VSSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
FRSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
FRSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
price
s)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
SOSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
fficie
nt
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
SOSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
0
.1
.2
.3
.4
.5
Wea
lth p
er c
apita
(in
milli
on, 1
982
pric
es)
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
JUSwitzerland
Wealth per Capita
.7
.75
.8
.85
.9
.95
Gin
i coe
ffici
ent
198019
8219
8419
8619
8819
9019
9219
9419
9619
9820
0020
0220
0420
0620
0820
10
JUSwitzerland
Inequality
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
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0007
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 10
Regional development of wealth inequality
.12
.14
.16
.18
.2
.22
.24
.26G
ini c
oeffi
cien
t bet
wee
n ca
nton
s
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
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tatio
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0007
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 11
Correlation between income and wealth inequality
AG
AI
AR
BE
BL
BS
FR
GE
GL
GR
JULU
NE
NW
OW
SG
SH
SO
SZ
TG
TI
UR
VD
VS
ZGZH
.7.725
.75.775
.8.825
.85.875
.9.925
.95.975
Wea
lth in
equa
lity (G
ini c
oeffi
cient
)
.27 .29 .31 .33 .35 .37 .39 .41 .43 .45 .47 .49 .51Income inequality (Gini coefficient)
1981
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
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0007
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 12
Correlation between income and wealth inequality
AGAI
AR
BE BL
BS
FR
GE
GL
GRJU
LU
NE NW
OW
SG
SH
SO SZ
TG
TI
UR
VD
VS
ZG
ZH
.7.725
.75.775
.8.825
.85.875
.9.925
.95.975
Wea
lth in
equa
lity (G
ini c
oeffi
cient
)
.27 .29 .31 .33 .35 .37 .39 .41 .43 .45 .47 .49 .51Income inequality (Gini coefficient)
1991
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 12
Correlation between income and wealth inequality
AG
AI
AR
BE BL
BS
FR
GE
GLGR
JULU
NE NWOW
SGSH
SO
SZTG
TI
UR
VD
VS
ZG
ZH
.7.725
.75.775
.8.825
.85.875
.9.925
.95.975
Wea
lth in
equa
lity (G
ini c
oeffi
cient
)
.27 .29 .31 .33 .35 .37 .39 .41 .43 .45 .47 .49 .51Income inequality (Gini coefficient)
1997
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 12
Correlation between income and wealth inequality
AGAI
AR
BE
BL
BS
FR
GE
GL
GR
JU
LUNE
NW
OW
SGSH
SOSZ
TGTI
UR
VD
VS
ZGZH
.7.725
.75.775
.8.825
.85.875
.9.925
.95.975
Wea
lth in
equa
lity (G
ini c
oeffi
cient
)
.27 .29 .31 .33 .35 .37 .39 .41 .43 .45 .47 .49 .51Income inequality (Gini coefficient)
2003
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 12
Correlation between income and wealth inequality
AGAI
AR
BE
BL
BS
FR
GE
GL
GR
JU
LUNE
NW
OW
SGSH
SO
SZ
TGTI
UR
VDVS
ZGZH
.7.725
.75.775
.8.825
.85.875
.9.925
.95.975
Wea
lth in
equa
lity (G
ini c
oeffi
cient
)
.27 .29 .31 .33 .35 .37 .39 .41 .43 .45 .47 .49 .51Income inequality (Gini coefficient)
2004
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 12
Correlation between income and wealth inequality
AGAI
AR
BE
BL
BS
FR
GE
GL
GR
JU
LUNE
NW
OW
SGSH
SO
SZ
TG
TI
UR
VDVS
ZGZH
.7.725
.75.775
.8.825
.85.875
.9.925
.95.975
Wea
lth in
equa
lity (G
ini c
oeffi
cient
)
.27 .29 .31 .33 .35 .37 .39 .41 .43 .45 .47 .49 .51Income inequality (Gini coefficient)
2005
Sou
rce:
http
://w
ww
.est
v.ad
min
.ch/
doku
men
tatio
n/00
075/
0007
6/00
701/
inde
x.ht
ml
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 12
Correlation between income and wealth inequality
AG
AIARBE
BL
BS
FR
GE
GL
GR
JU LU
NE
NW
OWSGSH
SO
SZ
TGTI
UR
VDVS
ZGZH
.7.725
.75.775
.8.825
.85.875
.9.925
.95.975
Wea
lth in
equa
lity (G
ini c
oeffi
cient
)
.27 .29 .31 .33 .35 .37 .39 .41 .43 .45 .47 .49 .51Income inequality (Gini coefficient)
2006
Sou
rce:
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 12
Correlation between income and wealth inequality
AG
AIAR
BE
BL
BS
FR
GE
GL
GR
JULUNE
NW
OWSGSH
SO SZ
TG
TI
UR
VD
VS
ZGZH
.7.725
.75.775
.8.825
.85.875
.9.925
.95.975
Wea
lth in
equa
lity (G
ini c
oeffi
cient
)
.27 .29 .31 .33 .35 .37 .39 .41 .43 .45 .47 .49 .51Income inequality (Gini coefficient)
2007
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rce:
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 12
Correlation between income and wealth inequality
AG AIARBE
BL
BS
FR
GE
GLGR
JU LUNE
NW
OWSGSH
SO
SZ
TG
TI
UR
VD
VS
ZGZH
.7.725
.75.775
.8.825
.85.875
.9.925
.95.975
Wea
lth in
equa
lity (G
ini c
oeffi
cient
)
.27 .29 .31 .33 .35 .37 .39 .41 .43 .45 .47 .49 .51Income inequality (Gini coefficient)
2008
Sou
rce:
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v.ad
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.ch/
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 12
Correlation between income and wealth inequality
AG AIARBE
BL
BS
FR
GE
GL
GR
JU LUNE
NW
OW
SGSH
SO SZ
TG
TI
UR
VD
VS
ZG
ZH
.7.725
.75.775
.8.825
.85.875
.9.925
.95.975
Wea
lth in
equa
lity (G
ini c
oeffi
cient
)
.27 .29 .31 .33 .35 .37 .39 .41 .43 .45 .47 .49 .51Income inequality (Gini coefficient)
2009
Sou
rce:
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 12
Correlation between income and wealth inequality
AGAIAR
BE
BL
BS
FR
GE
GLGR
JU LUNE
NW
OWSGSH
SO SZ
TG
TI
UR
VD
VS
ZGZH
.7.725
.75.775
.8.825
.85.875
.9.925
.95.975
Wea
lth in
equa
lity (G
ini c
oeffi
cient
)
.27 .29 .31 .33 .35 .37 .39 .41 .43 .45 .47 .49 .51Income inequality (Gini coefficient)
2010
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rce:
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Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 12
Income and wealth inequality in canton Bern
02468
10121416182022242628
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1 0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1
Income (G = 40.2) Wealth (G = 75.4)
Shar
e (%
)
Cumulative population
2002
Sou
rce:
Indi
vidu
alle
velt
axda
taof
cant
onB
ern
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 13
Income and wealth inequality in canton Bern
02468
10121416182022242628
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1 0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1
Income (G = 41.1) Wealth (G = 76.8)
Shar
e (%
)
Cumulative population
2012
Sou
rce:
Indi
vidu
alle
velt
axda
taof
cant
onB
ern
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 13
Income and wealth inequality in canton Bern
-.05
0
.05
.1
.15
.2
.25
.3
0
.2
.4
.6
.8
1
1.2
1.4
1.6
1.8
2
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1 0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1
Income Wealth
Cha
nge
(per
cent
age
poin
ts)
Cumulative population
Change in share between 2002 and 2012
Sou
rce:
Indi
vidu
alle
velt
axda
taof
cant
onB
ern
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 14
Wealth inequality by age (Bern)
0
.1
.2
.3
.4
.5
.6
.7
.8
25-34
35-44
45-54
55-64
65-74
75-84
85-94 To
tal 25
-3435
-4445
-5455
-6465
-7475
-8485
-94 Total
Median wealth (in million; 2010 prices) Gini coefficient
2002 2012
Sou
rce:
Indi
vidu
alle
velt
axda
taof
cant
onB
ern
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 15
Wealth inequality by age and marital status (Bern)
0
.1
.2
.3
.4
.5
.6
.7
.8
25-34
35-44
45-54
55-64
65-74
75-84
85-94 To
tal 25
-3435
-4445
-5455
-6465
-7475
-8485
-94 Total
Median wealth (in million; 2010 prices) Gini coefficient
2002: Married Single/divorced/widowed
Sou
rce:
Indi
vidu
alle
velt
axda
taof
cant
onB
ern
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 16
Wealth inequality by age and marital status (Bern)
0
.1
.2
.3
.4
.5
.6
.7
.8
25-34
35-44
45-54
55-64
65-74
75-84
85-94 To
tal 25
-3435
-4445
-5455
-6465
-7475
-8485
-94 Total
Median wealth (in million; 2010 prices) Gini coefficient
2012: Married Single/divorced/widowed
Sou
rce:
Indi
vidu
alle
velt
axda
taof
cant
onB
ern
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 16
Wealth inequality by age and sex (Bern)
0
.1
.2
.3
.4
.5
.6
.7
.8
25-34
35-44
45-54
55-64
65-74
75-84
85-94 To
tal 25
-3435
-4445
-5455
-6465
-7475
-8485
-94 Total
Median wealth (in million; 2010 prices) Gini coefficient
2002 (single/divorced/widowed): Males Females
Sou
rce:
Indi
vidu
alle
velt
axda
taof
cant
onB
ern
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 17
Wealth inequality by age and sex (Bern)
0
.1
.2
.3
.4
.5
.6
.7
.8
25-34
35-44
45-54
55-64
65-74
75-84
85-94 To
tal 25
-3435
-4445
-5455
-6465
-7475
-8485
-94 Total
Median wealth (in million; 2010 prices) Gini coefficient
2012 (single/divorced/widowed): Males Females
Sou
rce:
Indi
vidu
alle
velt
axda
taof
cant
onB
ern
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 17
Wealth inequality by labor income percentile (Bern)
0
.1
.2
.3
.4
.5
.6
.7
.8
.9
0-1010
-2020
-3030
-4040
-5050
-6060
-7070
-8080
-90
90-10
0To
tal 0-1
010
-2020
-3030
-4040
-5050
-6060
-7070
-8080
-90
90-10
0To
tal
Median wealth (in million; 2010 prices) Gini coefficient
2002 2012
Sou
rce:
Indi
vidu
alle
velt
axda
taof
cant
onB
ern;
wor
king
age
popu
latio
n(2
0-64
)
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 18
Income components by labor income percentile (Bern)
0
20000
40000
60000
80000
100000
120000
140000
160000
180000
200000
0
.1
.2
.3
.4
.5
.6
.7
.8
.9
1
0-1010
-2020
-3030
-4040
-5050
-6060
-7070
-8080
-90
90-10
0To
tal 0-1
010
-2020
-3030
-4040
-5050
-6060
-7070
-8080
-90
90-10
0To
tal
Per capita income (2010 prices) Proportion
Transfer income Labor income Capital income
Sou
rce:
Indi
vidu
alle
velt
axda
taof
cant
onB
ern;
wor
king
age
popu
latio
n(2
0-64
)
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 19
Summary
Results from federal tax statistics:I High level of wealth inequality in Switzerland.I Increase in wealth inequality since 1980, mostly due to gains among
the top 5%.I Some relation between wealth inequality and economic development.I Wide variety of inequality levels across cantons.I Strong increase in wealth inequality between cantons.I Strong relation between wealth and income inequality across cantons.
Results from cantonal tax data (Bern):I Wealth inequality in working age population somewhat higher than in
retirement age population.I Huge wealth differences between married and
unmarried/divorced/widowed.I Almost no differences between males and females.I Strong relation between wealth and income.
Jann/Fluder ([email protected]) Trends in Wealth Inequality in Switzerland Neuchâtel, 24.10.2014 20