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Differences in individual wealth holdings are widely viewed as a driving force of economic inequality. However, as this … in cross-sections, which eliminates transitory wealth inequality due to age, yet preserves inequality arising from other … yield erroneous wealth inequality rankings of countries. …
Persistent link: https://www.econbiz.de/10011968353
the change in wealth over the period. The goal of this paper is to examine the advantages and difficulties of using this … on income and wealth to other administrative data with information on financial and real estate transactions. Using this …
Persistent link: https://www.econbiz.de/10012801071
Interest in the emergence of a global middle class has resulted in a number of attempts to identify and enumerate who belongs to it . Current research provides wildly different estimates about the size and evolution of the global middle class because of a lack of consensus on appropriate...
Persistent link: https://www.econbiz.de/10011411753
households from administrative records of income and wealth. Expenditure surveys tend to suffer from limited sample sizes and …
Persistent link: https://www.econbiz.de/10011968601
The seminal paper by Pissarides and Weber (1989) is one of several previous studies trying to measure the size of the black economy. Pissarides and Weber compared the relationship between food expenditure and income in two groups of workers, self-employed and employees in employment, assuming...
Persistent link: https://www.econbiz.de/10011968184
We provide a systematic analysis of the properties of individual returns to wealth using twelve years of population … returns does not arise merely from differences in the allocation of wealth between safe and risky assets: returns are … heterogeneous even within narrow asset classes. Third, returns are positively correlated with wealth: moving from the 10th to the 90 …
Persistent link: https://www.econbiz.de/10012145556
Strong intergenerational correlations in wealth have fueled a long-standing debate over why children of wealthy parents … tend to be well off themselves. We investigate the role of family background in determining children's wealth accumulation … data set with detailed information on disaggregated wealth portfolios and socioeconomic characteristics. The mechanism by …
Persistent link: https://www.econbiz.de/10011968583
Despite macroeconomic evidence pointing to a negative aggregate consumption response due to political uncertainty, few papers have used microeconomic panel data to analyze how households adjust their consumption after an uncertainty shock. We study household savings and expenditure adjustment...
Persistent link: https://www.econbiz.de/10011968563
Using Norwegian administrative data, we study how sizable lottery prizes affect household expenditure and savings. Expenditure responses (MPCs) spike in the year of winning, with a mean estimate of 0.35, and thereafter fall markedly. Controlling for all items on the household balance sheet and...
Persistent link: https://www.econbiz.de/10011968622
A precautionary saving model is extended to include old-age pensions and provides the framework for an empirical analysis of the relation between old-age pensions and private consumption. Norwegian macro-data for socioeconomic groups of households are used to estimate consumption functions for...
Persistent link: https://www.econbiz.de/10011967880