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-called wealth hypothesis. On the other hand, Attanasio, Blow, Hamilton, and Leicester (2009) find that house prices have the same …
Persistent link: https://www.econbiz.de/10009792993
This paper applies multidimensional affluence measures to a new dataset on income and wealth in 15 Eurozone countries …. We start our analysis by examining the income and wealth distributions separately for each country, and extend it to a … multidimensional setting by considering the joint distribution of income and wealth. The results indicate that, with the exception of …
Persistent link: https://www.econbiz.de/10011288530
This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house prices in the four largest economies in the euro area: France, Germany, Italy, and Spain. We first calibrate a life-cycle incomplete-markets model with a financial asset and...
Persistent link: https://www.econbiz.de/10012133482
Rising wealth inequality has spurred an increased interest in understanding how and why wealth is correlated across … generations. We exploit plausibly exogenous variation in housing wealth driven by home price changes in different areas to isolate … the causal impact of parental housing wealth during different childhood periods on children's long-run wealth accumulation …
Persistent link: https://www.econbiz.de/10014338681
particular interest to economists, namely income and wealth and (b) to discuss issues in relation to their use, in particular … with respect to missing data. We describe how the income and wealth data were collected. We assess the quality of the … consider the relationship between income/wealth and life satisfaction, another variable captured in TILDA. We find that income …
Persistent link: https://www.econbiz.de/10009740282
We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel … information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The …
Persistent link: https://www.econbiz.de/10011572286
olds, we estimate similar health gradients in income and wealth in both countries, but for 70-80 year old, we find no … income gradient in UK. Standard behavioral risk factors (work, marriage, obesity, exercise, and smoking) almost fully explain … income gradients among 55-64 years old in both countries and a significant part among Americans 70-80 years old. The most …
Persistent link: https://www.econbiz.de/10003975385
and women, compared to non-Jews, with additional analyses of earnings, self-employment, and wealth. The Jews in Colonial …-employed professionals. The high level of human wealth of contemporary American Jews is not at the expense of non-human wealth. Overall, and … even when other variables including schooling are held constant, Jews have higher levels of wealth and higher rates of …
Persistent link: https://www.econbiz.de/10003922125
wealth-income ratios previously found by Piketty and Zucman (2014) for some very rich and large Western economies extend to … lower wealth levels than the rest of Europe, and the main explanation is that the Swedes were too poor to save their income … political institutions for the long-run evolution of wealth-income ratios. …
Persistent link: https://www.econbiz.de/10011347159
been made in the US labour market, using a dynamic panel probit model. The estimated income effect of higher housing wealth … reinforced by wealth and earned income. … is virtually zero and that of financial assets wealth is positive, increasing the retirement probability. The …
Persistent link: https://www.econbiz.de/10010239270