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effect of the coronavirus crisis on household income and retirement wealth, households’ expectations about the recovery, and … pronounced for middle-age households and those higher in the wealth and income distributions. This contrasts with income shocks …, which are stronger for younger households and those in lower income and wealth quintiles. Expectations about household …
Persistent link: https://www.econbiz.de/10012206687
We study beliefs about wealth inequality and preferences for wealth redistribution. For this, we conduct a large …-scale online survey in Germany. First, we analyze how well participants are informed about the German wealth distribution and their … position in it. Second, we investigate how preferences for wealth redistribution are affected by an information experiment. One …
Persistent link: https://www.econbiz.de/10014543737
greater wealth inequality. …, 19th century weight was higher in states with greater average wealth and population density and lower in states with …
Persistent link: https://www.econbiz.de/10011392586
income. We argue that instead of using yearly income, one should measure wealth tax burdens with respect to individual … concept can be established. Under our preferred income concept, the wealth tax shows advantageous distributional effects - it …Recent books by Thomas Piketty (Piketty, 2014) and Anthony Atkinson (Atkinson, 2015) have brought the annual wealth tax …
Persistent link: https://www.econbiz.de/10011717186
We calibrate a sequence of four nested models to study the dynamics of wealth accumulation. Individuals maximize a … utility function whose arguments are consumption and investment. They desire to accumulate wealth for its own sake - this is … reduce the tax rate on capital income. The third model introduces differential rates of return to capitals of different sizes …
Persistent link: https://www.econbiz.de/10010515458
on debt composition. Based on a simulation exercise, we find a limited effect of wealth shocks on consumption inequality …This paper studies the heterogeneity of the marginal propensity to consume out of wealth based on French household … surveys. This heterogeneity is driven by differences in both wealth composition and wealth levels. We find a decreasing …
Persistent link: https://www.econbiz.de/10011735887
well as at all levels of net wealth at a point in time. Gifts and inheritances are only an important source of income flows … extreme wealth inequality in society. … inequality. This paper uses a 19-year panel of administrative data for the population of Norway to examine the share of the Total …
Persistent link: https://www.econbiz.de/10012815788
Using new long-run microdata, this paper studies wealth and income trends of college and noncollege households in the … considerably larger than the college income premium. Over the past four decades, the wealth of American households with a … financial literacy and business ownership for the increase in wealth inequality between college and non-college households. …
Persistent link: https://www.econbiz.de/10012031017
developed economies. A key stylized fact is that wealth is less equally distributed than income. Financial assets predominate … among the wealthy, while owner-occupied housing is crucial for middle groups, so higher stock prices raise wealth inequality … while house price increases do the opposite. Inheritances exacerbate absolute wealth inequality but reduce rel …
Persistent link: https://www.econbiz.de/10014564314
Does parental wealth inequality impact next generation labor income inequality? And does a tax on parental wealth … intergenerational data from Norway, focusing on effects on wages rather than capital income. Results suggest that a net wealth of NOK 1 … affect the labor income distribution of the next generation? We tackle both questions empirically using detailed …
Persistent link: https://www.econbiz.de/10012597127