(Bloomberg) -- The oft-cited line that the top 1% of U.S. households lay claim to 30% of all wealth is probably an understatement, according to a European Central Bank working paper.
Incorporating missed data on rich households pushes the share of wealth held by top earners up to between 35% and 37%, wrote Philip Vermeulen, a senior economist at the ECB. Thats higher than the 34% suggested by the 2010 U.S. Survey of Consumer Finances data from the Federal Reserve.
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