Similar Search Results

U.S. Stock Market Crash Risk, 1926-2006

Bates, David S. - National Bureau of Economic Research (NBER) - 2009

This paper applies the Bates (RFS, 2006) methodology to the problem of estimating and filtering time- changed Lévy processes, using daily data on U.S. stock market excess returns over 1926-2006. In contrast to density-based filtration approaches, the methodology recursively updates the...

Persistent link: https://www.econbiz.de/10004992858

Household Wealth Trends in the United States, 1962-2013: What Happened over the Great Recession?

Wolff, Edward N. - National Bureau of Economic Research (NBER) - 2014

median wealth plummeted by 44 percent over years 2007 to 2010, almost double the drop in housing prices. The inequality of … indebtedness. The sharp fall in median net worth and the rise in overall wealth inequality over these years are traceable primarily … proximate cause was the high dissavings of the middle class, though their debt continued to fall. Wealth inequality and the …

Persistent link: https://www.econbiz.de/10011096563

Capital and Wealth in the 21st Century

Weil, David - National Bureau of Economic Research (NBER) - 2015

In Capital in the 21st Century, Thomas Piketty uses the market value of tradeable assets to measure both productive capital and wealth. As a measure of wealth this is problematic because it ignores the value of human capital and transfer wealth, which have grown enormously over the last 300...

Persistent link: https://www.econbiz.de/10011159899

Racial Disparities in Savings Behavior for a Continuously Employed Cohort

Kuan, Kai Yuan; Cullen, Mark R.; Modrek, Sepideh - National Bureau of Economic Research (NBER) - 2015

The wealth gap has reached record highs. At the same time there has been substantial proliferation of 401(k) savings accounts as the dominant retirement savings vehicle, and these accounts make up an increasing proportion of overall wealth. In this paper we examine 401(k) saving behavior of...

Persistent link: https://www.econbiz.de/10011165131

Quantitative Models of Wealth Inequality: A Survey

De Nardi, Mariacristina - National Bureau of Economic Research (NBER) - 2015

In the data, wealth is very unequally distributed, even more so than labor earnings and income, and the saving rate of wealthy people is high. Many dynamic models used for quantitative policy evaluation imply that once households get rich, they dissave. As a result, these models generate too...

Persistent link: https://www.econbiz.de/10011262924

What Do We Know About Evolution of Top Wealth Shares in the United States?

Kopczuk, Wojciech - National Bureau of Economic Research (NBER) - 2014

I discuss available evidence about the evolution of top wealth shares in the United States over the last one hundred years. The three main approaches – Survey of Consumer Finances, estate tax multiplier techniques and capitalization method – generate generally consistent findings until...

Persistent link: https://www.econbiz.de/10011184256

Insurance in extended family networks

Attanasio, Orazio; Meghir, Costas; Mommaerts, Corina - National Bureau of Economic Research (NBER) - 2015

We investigate partial insurance and group risk sharing in extended family networks. Our approach is based on decomposing income shocks into group aggregate and idiosyncratic components, allowing us to measure the extent to which each is insured, having accounted for public insurance programs....

Persistent link: https://www.econbiz.de/10011240581

Effects of Social Security Policies on Benefit Claiming, Retirement and Saving

Gustman, Alan L.; Steinmeier, Thomas L. - National Bureau of Economic Research (NBER) - 2013

An enhanced version of a structural model jointly explains benefit claiming, wealth and retirement, including reversals from states of lesser to greater work. The model includes stochastic returns on assets. Estimated with Health and Retirement Study data, it does a better job of predicting...

Persistent link: https://www.econbiz.de/10010821712

Bonus Culture: Competitive Pay, Screening, and Multitasking

Benabou, Roland; Tirole, Jean - National Bureau of Economic Research (NBER) - 2013

, while inequality tends to rise monotonically. Bonus caps and income taxes can help restore balance in agents' incentives and …

Persistent link: https://www.econbiz.de/10010821716

Marry Your Like: Assortative Mating and Income Inequality

Greenwood, Jeremy; Guner, Nezih; Kocharkov, Georgi; … - National Bureau of Economic Research (NBER) - 2014

inequality? Data from the United States Census Bureau suggests there has been a rise in assortative mating. Additionally …, assortative mating affects household income inequality. In particular, if matching in 2005 between husbands and wives had been ….34, so that income inequality would be smaller. Thus, assortative mating is important for income inequality. The high level …

Persistent link: https://www.econbiz.de/10010821896