WID World Wealth Income Daaseit world

WID World Wealth Income Daaseit worldIT ConsultantsThomas Blanchet, Guillaume SaintJacques, David Smadja

What is the meaning of the economic concepts used on WID.world?

Clickherefor help on how to navigate through WID.world menus and graphs.

Only few institutions provide inequality estimates and those who do so e.g. the the OECD or the World Bank data portals rely for the most part on household surveys. One key problem with surveys, however, is that they are based upon selfreporting and are well known to underestimate top incomes and top wealth shares. In addition, surveys only cover a limited time span and make it impossible to offer a longterm perspective on inequality trends.

For more information on the network of researchers, clickhere.

Project ManagementFacundo Alvaredo and Lucas Chancel

In addition, it should be noted that there are specific countries such as China where there is substantial controversy about price deflators and aggregate real growth. In such cases we review all existing series and attempt to combine them in the most sensible manner. This is fully explained in the countryspecific s.

The data series provided in WID.world should however not be seen as perfect and definitive existing series are continuously updated and improved by WID.world fellows, following new raw data releases or conceptual and methodological improvements. All the methodological followed to construct our series can be found in countryspecific s in ourmethodology libraryor in theDINA guidelines.

Benjamin Grillet, François Prosper, Brice Terdjman, Anthony Veyssire

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There are already many on line economic data portals, why using WID.world?

For more information on methodology, clickhere.

For more information on what you will find and will not find on WID.world, clickhere.

What distinguishes WID.worlds national accounts data from the UN, the IMF, the World Bank, or other national accounts data providers?

All these methodological choices can explain slightly different values between WID.world and other data portals. They are described in the Metadata associated to each variable and in the associated methodological documents. See in particular the « World National Accounts Series Methodology » here and the « Distributional National Accounts Guidelines » there.

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Estimates for national accounts such as national income and national wealth found on WID.world and on international statistical institutions daases are generally consistent, buy can vary for several reasons.

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We try our best to use economic concepts which are consistent with national accounting i.e. the system used for measuring the economic activity of a nation and that can also make sense for the general public. On each graph, users can click on the ? icon and will find the definition of the concepts at stake.

WID.world is entirely funded by public, nonprofit actors and personal donations.

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WID.world overcomes this limitation by combining different data sources national accounts, survey data, fiscal data, and wealth rankings. By doing so, it becomes possible to track very precisely the evolution of all income or wealth levels, from the bottom to the top. The key novelty of the WID.world project is to use such data in a systematic manner, allowing comparisons between countries and over long time periods.

Over the past decades, the increase in economic inequalities was largely driven by a rise in income and wealth accruing to the top of the distribution. However, household surveys, the data sources traditionally used to observe these dynamics, do not capture these evolution very well. They provide useful information and cover a lot of countries but do not inform adequately on income and wealth levels of the richest iniduals.

As a consequence, we are able to offer consistent global series on national income i.e. P minus consumption of fixed capital, plus net foreign income which do not exist elsewhere.

Users can also use our quicksearchglossaryto find the definition they want.

Should you have further questions on the data, do not hesitate to contact us.

WID.world uses Purchasing Power Parity round for international comparisons. It should also be noted that deult monetary values for Eurozone countries are ed in PPP Euros and are thus different from Market exchange rate Euros. A Eurozone country with high relative prices will have a lower PPP Euro average income values. Market exchange rates values can be obtained in our custom menus.

If you wish to support us, please click on the DONATE button at the bottom of the funding .

Should you have further questions on the data, do not hesitate to contact us.

What distinguishes WID.worlds inequality data from the OECD, the World Bank, or other inequality data providers?

In contrast, WID.world combines national accounts and survey data with fiscal data sources. This allows us to release inequality estimates that are more reliable from the bottom to the top of the distribution of income and wealth and also that span over much longer periods.

I encounter technical problems on WID.world, what should I do?

For more information on WID.world and its history, clickhere.

Finally, reliable series for the consumption of fixed capital capital depreciation estimates are not readily available for a large number of countries, so we combine various sources and develop new methods to derive consistent global series.

Panagiotis Korvesis, Antonis Skandalis, Konstantinos Skianis, Michalis Vazirgianis

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First, we release detailed series for national wealth accounts, which usually cannot be found on other portals. Next, we include corrections for offshore wealth and offshore capital income, so that our series on foreign capital income inflows and outflows are consistent at the global level e.g. they sum to zero, which is typically not the case in existing daases.