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Capital Income Risk and the Dynamics of the Wealth Distribution
Khieu, Hoang; Wälde, Klaus - 2018
to predict the evolution of a wealth distribution over time. Stochastic labour income follows a deterministic growth … interest rate implies a stationary long-run wealth distribution, a high interest rate implies non-stationary wealth … distributions. Our baseline model matches the evolution of the wealth distribution of the NLSY 79 cohort from 1986 to 2008 very well …
Persistent link: https://www.econbiz.de/10011931805
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Differences in Euro-Area Household Finances and their Relevance for Monetary-Policy Transmission
Hintermaier, Thomas; Koeniger, Winfried - 2019
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/10012179936
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The Insights and Illusions of Consumption Measurements
Battistin, Erich; De Nadai, Michele; Krishnan, Nandini - 2020
While household well-being derives from long-term average rates of consumption, welfare comparisons typically rely on shorter-duration survey measurements. We develop a new strategy to identify the distribution of these long-term rates by leveraging a large-scale randomization in Iraq that...
Persistent link: https://www.econbiz.de/10012269900
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Dynamic Labor Reallocation with Heterogeneous Skills and Uninsured Idiosyncratic Risk
Faia, Ester; Kudlyak, Marianna; Shabalina, Ekaterina - 2021
specialization of the production function. The model matches well the statistics on income and wealth inequality, and the patterns of … task encroaching on income and wealth inequality. We apply the model to the pandemic recession by adding an SIR block with …
Persistent link: https://www.econbiz.de/10012882370
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Consumption Choices and Earnings Expectations: Empirical Evidence and Structural Estimation
Stoltenberg, Christian A.; Uhlendorff, Arne - 2022
controlling for realized earnings and wealth. To explain this evidence, we develop and structurally estimate a standard … relevant for the consumption choices of households in the left tail of the wealth distribution. Furthermore, households with …
Persistent link: https://www.econbiz.de/10013351982
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Modelling the Distributional Effects of the Cost-of-Living Crisis in Turkey and the South Caucasus: A Microsimulation Analysis
Can, Zeynep Gizem; O'Donoghue, Cathal; Sologon, Denisa Maria - 2023
This study addresses the different distributional and welfare implications of price volatility amid the ongoing cost-of-living crisis, focusing on both Turkey and the South Caucasus region, which have different welfare regimes and patterns of price changes. This paper explores the impact of...
Persistent link: https://www.econbiz.de/10014469568
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On the Origins of Socio-Economic Inequalities: Evidence from Twin Families
Bingley, Paul; Cappellari, Lorenzo; Tatsiramos, Konstantinos - 2023
nine percent. We find similar percentages for earnings, income, and wealth. Decomposing intergenerational elasticities … reveals that shared environments explain 50% for earnings, 60% for income, 70% for wealth, and 80% for schooling. Family …
Persistent link: https://www.econbiz.de/10014469683
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Consumption Inequality and the Frequency of Purchases
Coibion, Olivier; Gorodnichenko, Yuriy; Koustas, Dmitri - 2017
We document a decline in the frequency of shopping trips in the U.S. since 1980 and consider its implications for the measurement of consumption inequality. A decline in shopping frequency as households stock up on storable goods (i.e. inventory behavior) will lead to a rise in expenditure...
Persistent link: https://www.econbiz.de/10011744594
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Life Cycle Saving and Dissaving Revisited across Three-Tiered Income Groups: Starting Hypotheses, Refinement through Literature Review, and Ideas for Empirical Testing
Holzmann, Robert; Ayuso, Mercedes; Alaminos, Estefanía; … - 2019
precisions and wrinkles. The paper proposes next conceptual and empirical steps, including enriching existing wealth distribution … estimates at retirement with sound estimates of social insurance wealth (pension and health), focused hypothesis testing of the …
Persistent link: https://www.econbiz.de/10012141291
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Heterogeneous Life-Cycle Profiles, Income Riskand Consumption Inequality
Primiceri, Giorgio E.; Rens, Thijs van - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007
Was the increase in income inequality in the US due to permanent shocks or merely to anincrease in the variance of transitory shocks? The implications for consumption and welfaredepend crucially on the answer to this question. We use CEX repeated cross-section data onconsumption and income to...
Persistent link: https://www.econbiz.de/10005861079