Data&Code for replication: THE CONCENTRATION OF PERSONAL WEALTH IN ITALY:1995-2016
Creators: name: Morelli, Salvatore
name: Alvaredo, Facundo
name: Acciari, Paolo
Publisher: name: Zenodo
Year: 2023

description: General Statement about ReplicationThe files include all codes and data that we used to produce the series presented in the paper. However, we are not allowed to share the data produced for us by the statistical office of the Ministry of Economy and Finance of Italy (granular tabulations of the distribution of estate derived by inheritance tax returns), as we signed a confidentiality agreement. However, these data are available for researchers and can be used for replication of our results. To access these data in particular, interested users should contact the Ministry of Economy and Finance of Italy directly.

 

Readme File for Results Replication using STATAThis readme file provides an overview of the process for deriving results related to the concentration of personal wealth in Italy from 1995 to 2016 using Stata (version 18). The master code (within the RUN.do file) and data are organized into various sections, each serving a specific purpose in the analysis.



Install Programs and Define Globals:



This section installs necessary programs and defines global variables used in the code.



Create Folders:



 Creates folders for organizing data and results.



 Import Reported Original Wealth Data from Raw Confidential Tabulations:



Confidential data from the Italian Ministry of Finance is imported. The data is stored as Stata files within the "INPUT\Estate tabulations" folder. Note that the data is confidential and not included in this repository. Researchers should request access directly from the Ministry of Economics and Finance.



Obtain Mortality Rates and Multipliers:



Refers to an external do-file named "MortalityRates_Dofile.do" for obtaining mortality rates and multipliers.



Apply Estate Multiplier Method:



The original estate tabulations are reweighted by the inverse of the mortality rates. Then tabulations are reshaped into a long format.



Adjust Tabulations for Wealth of the Missing (Non-Reporting) Popula􀆟on:



Addresses wealth of the missing population.



Obtain Redistribution/Imputation Coefficients:



Obtains coefficients for redistributing missing wealth based on National balance sheets data.



Adjust Tabulations for Missing Wealth (Non-Reporting, Underreporting, Evasion, Tax Exemption):



Further adjustments for missing wealth data.



Derive Population and Final Wealth Totals:



Calculation of population and wealth totals.



Derive Top Wealth Shares:



Calculation of top wealth shares using all alternative tabulations that we have generated.

Generate inequality statistics, including wealth shares, also using the Generalized Pareto Interpolations.



Gifts Data:



Analysis of reported gifts data and output saved in an Excel file.



Estate Distribution:



Analysis of estate distribution data and derivation of estate concentration estimates.



Life-Time Inheritance & Gifts Distribution:



Analysis of life-time inheritance and gifts distribution data. Derivation of concentration estimates based on life-time inheritance and gifts.



Age-Adjustment for Gini Coefficients:



Derive Gini coefficients adjusting for age.



Determinants of Wealth Inequality:



Analysis of determinants of wealth inequality.



Graphs and Tables:



Generation of graphs and tables summarizing the results.For detailed instructions and specific code for each section, please refer to the corresponding sections in the Stata master code named “RUN.do”.```