Top 1 Percent Is Even Richer Than Surveys Say, ECB Paper Finds – Bloomberg 07-14-14

Salient to Investors:

Philip Vermeulen at the ECB said:

  • The top 1 percent of US households owns 35-37 percent of all wealth, higher than the 34 percent finding of the 2010 US Survey of Consumer Finances.
  • Our knowledge of the wealth distribution is imperfect, and very likely underestimates wealth at the top, because richer households have a lower response rate to surveys measuring their assets.
  • In the Netherlands the top 1% owns 12-17 percent, higher than the 9 percent in concentration surveys.

Read the full article at http://www.bloomberg.com/news/2014-07-15/top-1-percent-is-even-richer-than-surveys-say-ecb-paper-finds.html

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