Table A2 Variables and sources for panel... | Emerald Publishing

Table A2

Variables and sources for panel data estimation

Variables	Variable definition	Sources
TOP1	Share of Top 1% in net personal wealth	World Inequality Database (WID)
TOP10	Share of Top 10% in net personal wealth	WID
GOV_DEBT_GDP	General government debt over GDP ratio	European Commission’s Directorate General for Economic and Financial Affairs (AMECO) and FRED, Federal Reserve Bank of St. Louis
HOU_DEBT-GDP	Debt-to-GDP ratio for household sector	Bank for International Settlements (BIS)
STOCK	A share price index measures how the value of the stocks in the index is changing and refers to how much money investors would make as a result of investing in that basket of shares	OECD Main Economic Indicators database
RENTAL	Consumer price indices (CPIs) for actual rentals for housing	OECD Main Economic Indicators database
HOUSEPRICE	The real house price index is given by the ratio of the nominal house price index to the consumers’ expenditure deflator in each country from the OECD national accounts database. It covers the sales of newly built and existing dwellings, following the recommendations from the Residential Property Prices Indices (RPPI) manual	OECD Main Economic Indicators database
INTRATE	Long-Term bond yields are issued at par with 10 years to maturity	OECD Main Economic Indicators database
SOCIALSPEND	Ratio of social spending over GDP. Social expenditure comprises cash benefits, direct in-kind provision of goods and services, and tax breaks with social purposes. Benefits may be targeted at low-income households, the elderly, disabled, sick, unemployed, or young persons	OECD Main Economic Indicators database
TAX	Ratio of tax revenue over GDP. Tax revenue is defined as the revenues collected from taxes on income and profits, social security contributions, taxes levied on goods and services, payroll taxes, taxes on the ownership and transfer of property, and other taxes	OECD Macroeconomic Indicators database
GINI	Measure of inequality derived from the Lorenz curve	SWIID Version 6.9 (Solt, 2019)

Variables	Variable definition	Sources
TOP1	Share of Top 1% in net personal wealth	World Inequality Database (WID)
TOP10	Share of Top 10% in net personal wealth	WID
GOV_DEBT_GDP	General government debt over GDP ratio	European Commission’s Directorate General for Economic and Financial Affairs (AMECO) and FRED, Federal Reserve Bank of St. Louis
HOU_DEBT-GDP	Debt-to-GDP ratio for household sector	Bank for International Settlements (BIS)
STOCK	A share price index measures how the value of the stocks in the index is changing and refers to how much money investors would make as a result of investing in that basket of shares	OECD Main Economic Indicators database
RENTAL	Consumer price indices (CPIs) for actual rentals for housing	OECD Main Economic Indicators database
HOUSEPRICE	The real house price index is given by the ratio of the nominal house price index to the consumers’ expenditure deflator in each country from the OECD national accounts database. It covers the sales of newly built and existing dwellings, following the recommendations from the Residential Property Prices Indices (RPPI) manual	OECD Main Economic Indicators database
INTRATE	Long-Term bond yields are issued at par with 10 years to maturity	OECD Main Economic Indicators database
SOCIALSPEND	Ratio of social spending over GDP. Social expenditure comprises cash benefits, direct in-kind provision of goods and services, and tax breaks with social purposes. Benefits may be targeted at low-income households, the elderly, disabled, sick, unemployed, or young persons	OECD Main Economic Indicators database
TAX	Ratio of tax revenue over GDP. Tax revenue is defined as the revenues collected from taxes on income and profits, social security contributions, taxes levied on goods and services, payroll taxes, taxes on the ownership and transfer of property, and other taxes	OECD MacroeconomicIndicators database
GINI	Measure of inequality derived from the Lorenz curve	SWIID Version 6.9 (Solt, 2019)

Source(s): Authors' own creation