Research report on integrating information on wealth into EUROMOD

Abstract

In this research report we describe the infrastructural improvements that we performed for microsimulating wealth-related policies in EUROMOD. These improvements contain the inclusion of wealth-related policies and uprating indices for four years (an income reference year, 2017, 2018, and 2019) in EUROMOD H1.0+ and the implementation of a ‘EUROMOD Wealth Extension’ that contains these wealth-related aspects. We also briefly describe the Eurosystem Household Finance and Consumption Survey and its suitability as an underlying database for microsimulating wealth-related policies in EUROMOD, and the choice of countries for including wave 2 HFCS data in EUROMOD.