Showing 1 - 10 of 1,171
This paper studies the distribution of U.S. household income and wealth over the past seven decades. We introduce a … newly compiled household-level dataset based on archival data from historical waves of the Survey of Consumer Finances (SCF … between the 25th and 75th percentile of the distribution. The household data also reveal that the paths of income and wealth …
Persistent link: https://www.econbiz.de/10011717045
We study the impact of heterogeneous saving behavior on the distributional effects of public investment. A capital tax is levied to finance productive public capital in an economy with two types of households: high income households who save dynastically and middle income households who save for...
Persistent link: https://www.econbiz.de/10010260036
We study the impact of a government spending shock on the distribution of income and wealth between cohorts in a dynamic stochastic Overlapping Generations model with two types of households, Ricardian households and rule-of-thumb consumers. We demonstrate that an unexpected increase in...
Persistent link: https://www.econbiz.de/10011458011
This paper provides a household-level perspective on the rise of global saving and wealth since the 1980s. We calculate … China. In the past four decades, global saving inequality has risen sharply. The share of household saving flows coming from … the richest 10% of household increased by 60% while saving of middle-class households has fallen sharply. The most …
Persistent link: https://www.econbiz.de/10013187481
This paper studies the heterogeneity of the marginal propensity to consume out of wealth based on French household …
Persistent link: https://www.econbiz.de/10011735887
How much does inequality matter for the business cycle and vice versa? Using a Bayesian likelihood approach, we estimate a heterogeneous-agent New-Keynesian (HANK) model with incomplete markets and portfolio choice between liquid and illiquid assets. The model enlarges the set of shocks and...
Persistent link: https://www.econbiz.de/10012162730
We provide quasi-experimental evidence on the income tax-induced migration of foreign high-income households living in Switzerland by exploiting the differential tax treatment of UK and US households. While the two groups are similar in terms of non-tax sorting preferences, US households are...
Persistent link: https://www.econbiz.de/10014251885
This paper aims at an improved understanding of the relationship between monetary policy and racial inequality. We investigate the distributional effects of monetary policy in a unified framework, linking monetary policy shocks both to earnings and wealth differentials between black and white...
Persistent link: https://www.econbiz.de/10012428946
Rent seeking leads to a misallocation of resources that worsens economic outcomes and reduces aggregate welfare. We conduct a quantitative examination of the distributional effects of rent extraction via the financial sector. Rent seeking introduces a possibility for insurance against...
Persistent link: https://www.econbiz.de/10012103582
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...
Persistent link: https://www.econbiz.de/10014543737