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Inherited vs Self-Made Wealth: Theory & Evidence from a Rentier Society (Paris 1872-1937)

Piketty, Thomas; Postel-Vinay, Gilles; Rosenthal, Jean … - C.E.P.R. Discussion Papers - 2011

This paper divides the population into two groups: the "inheritors" or "rentiers" (whose wealth is smaller than the capitalized value of their inherited wealth, i.e. who consumed more than their labor income during their lifetime); and the "savers" or "self-made men" (whose wealth is larger than...

Persistent link: https://www.econbiz.de/10009643507

On the Evolution of the US Consumer Wealth Distribution

Hintermaier, Thomas; Koeniger, Winfried - C.E.P.R. Discussion Papers - 2010

We use all available waves of the Survey of Consumer Finances to document the evolution of the wealth distribution in the US since the 1980s. We then rely on the shape of this distribution to estimate a life-cycle incomplete markets model. We find that considering a wide range of net-worth...

Persistent link: https://www.econbiz.de/10008468610

Capital Markets, Information Aggregation and Inequality: Theory and Experimental Evidence

Grüner, Hans Peter - C.E.P.R. Discussion Papers - 2008

In most industrialized economies, financial wealth is distributed far more unequally than income. According to Wolff (2007) more than half of the American households possess almost no productive capital while realizing about 20 percent of national income. This mismatch poses a problem for the...

Persistent link: https://www.econbiz.de/10005124084

Wealth inequality and household structure: US vs. Spain

Bover, Olympia - C.E.P.R. Discussion Papers - 2008

We study the link between culturally inherited household structure and wealth distribution in international comparisons using household data for the US and Spain (the SCF and the EFF). We estimate counterfactual US distributions relying on the Spanish household structure. Our results show that...

Persistent link: https://www.econbiz.de/10005136407

Flat Tax Reforms in the US: A Boon for the Income Poor

Díaz-Giménez, Javier; Pijoan-Mas, Josep - C.E.P.R. Discussion Papers - 2006

In this article we quantify the aggregate, distributional and welfare consequences of two revenue neutral flat-tax reforms using a model economy that replicates the U.S. distributions of earnings, income and wealth in very much detail. We find that the less progressive reform brings about a 2.4%...

Persistent link: https://www.econbiz.de/10005662104

Wealth Inequality and Credit Markets: Evidence from Three Industrialized Countries

Brückner, Markus; Gerling, Kerstin; Grüner, Hans Peter - C.E.P.R. Discussion Papers - 2007

Capital market theory predicts that the wealth distribution of an economy affects real interest rates. This paper empirically analyzes this relationship for the US, the UK and Sweden. We obtain that measures of wealth inequality are positively linked to the real rate on government securities in...

Persistent link: https://www.econbiz.de/10005791439

Wealth Distribution and Interest Rates: Empirical Evidence for the US

Grüner, Hans Peter - C.E.P.R. Discussion Papers - 2001

Capital market theory predicts that the wealth distribution should affect interest rates. This Paper empirically analyses the relationship between the wealth distribution and interest rates in the US. We use data on wealth inequality from various sources. Measures of wealth inequality are linked...

Persistent link: https://www.econbiz.de/10005661722

Factors and Effects of Trade Reorientation in Hungary

Halpern, László - C.E.P.R. Discussion Papers - 1993

The collapse of the CMEA completed the Hungarian trade reorientation during the second half of the 1980s. Panel model estimations of trade reorientation reveal that cost efficiency, export subsidy and foreign demand played important and varying roles between 1981 and 1990. During the last two...

Persistent link: https://www.econbiz.de/10005666895

Does Extending Unemployment Benefits Improve Job Quality?

Nekoei, Arash; Weber, Andrea - C.E.P.R. Discussion Papers - 2015

insurance (UI) on reemployment wages. This paper estimates a positive UI wage effect exploiting an age-based regression … balance between two offsetting forces: UI causes agents to seek higher-wage jobs, but also reduces wages by lengthening … both in our sample and across studies, reconciling disparate wage-effect estimates. Empirically, UI raises wages by …

Persistent link: https://www.econbiz.de/10011272710

Services offshoring and wages: Evidence from micro data

Geishecker, Ingo; Görg, Holger - C.E.P.R. Discussion Papers - 2011

This paper investigates the effects of services offshoring on wages using individual-level data combined with industry … real wages. Hence, offshoring has contributed to a widening of the wage gap between skilled and less skilled workers. This …

Persistent link: https://www.econbiz.de/10009359484

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