Seminar: A complete measure of wealth and wealth inequality

In the past years, linking micro data to macro aggregates of the system of national accounts (SNA) received a lot of attention. Most efforts focused on adding distributions of income and consumption to macro aggregates of the household sector. In this article, we will include the wealth dimension as well. In measures of wealth inequality, often pension entitlements are not included. In the Dutch System of National Accounts however, these are the largest asset of households. These entitlements relate to work-related and voluntary pensions, but exclude public pensions. Recently, estimates of household pension wealth are extended with implicit pension wealth. This is the result of ongoing efforts to make pension systems more comparable over countries. In this article, we will show the leveling effects of the pension schemes, and compare the new wealth measures with income inequality in the Netherlands.