July 10, 2020
Written by WID.world

2020 Update of Macroeconomic Aggregates

The World Inequality Database has been updated to include the latest data on macroeconomic aggregates. The series and GDP and net national income now cover all the years from 1950 to 2019, and all the series are now expressed at 2019 prices.
This year’s macroeconomic is a significant update. The database now includes a much more detailed decomposition of national income into its subcomponents, which we obtained by combining a large number of data sources, including WIL fellows, the UN SNA, the OECD, the IMF, and the World Bank. We have harmonized these various data sources and ensured their consistency at every step.
This unique new data source will allow users to easily get estimates of the labor and the capital share, tax revenue, government spending by function, etc. To guide users through this extension of the database, we now publish a user-friendly codes dictionary that describes each variable used in the database, and how variables relate to one another. Using this new data structure, we intend to keep updating and extending the database in the future, and to use it to gain new insights about the evolution of income and wealth.