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sources of household wealth has had a sizeable effect on reducing the inequality of wealth … wealth transfer and these accounted for about a quarter of their net worth. Over the lifetime, about 30 percent of households … could expect to receive a wealth transfer and these would account for close to 40 percent of their net worth near time of …
Persistent link: https://www.econbiz.de/10013129119
focus on understanding implications of inequality of inherited wealth: the topic that has been neglected in the past, even …, bequests, inheritances, inter vivos gifts) and wealth. The main message may be summarized as follows. Empirical evidence on … direction of (1) mixed motives (2) heterogeneity of preferences and (3) importance of retaining control over wealth. These …
Persistent link: https://www.econbiz.de/10013097266
cycle model featuring endogenous financial knowledge accumulation. The model generates substantial wealth inequality, over … the potential to account for a large proportion of wealth inequality. The fraction of the population which is rationally …While financial knowledge is strongly positively related to household wealth, there is also considerable cross …
Persistent link: https://www.econbiz.de/10013089021
in real terms by 25 percent. The sharp fall in median wealth and the rise in inequality in the late 2000s are traceable …I find that median wealth plummeted over the years 2007 to 2010, and by 2010 was at its lowest level since 1969. The … inequality of net worth, after almost two decades of little movement, was up sharply from 2007 to 2010. Relative indebtedness …
Persistent link: https://www.econbiz.de/10013065019
estimated, richer earnings process generates an increase in consumption inequality over the life cycle that is consistent with … the data and better fits the savings of the households at the bottom 60% of the wealth distribution …
Persistent link: https://www.econbiz.de/10013000507
Using Danish administrative data, we estimate the impact of bequests on the level and inequality of wealth. We employ …. We find that bequests increase measures of absolute wealth inequality (variance), but reduce relative inequality (top … an event study design where we follow the distribution of wealth over time of people who are 45-50 years old, and divide …
Persistent link: https://www.econbiz.de/10013001196
Using administrative wealth records from Denmark, we study the effects of wealth taxes on wealth accumulation. Denmark … used to impose one of the world's highest marginal tax rates on wealth, but this tax was drastically reduced and ultimately … abolished between 1989 and 1997. Due to the specific design of the wealth tax, these changes provide a compelling quasi …
Persistent link: https://www.econbiz.de/10012925900
wealth and income distribution in these 20 countries allows estimates of wealth inequality to be produced for many other … distribution of wealth is estimated to be 0.802, indicating greater inequality than that observed in the global distribution of …We estimate the level and distribution of global household wealth. The levels of assets and debts for 39 countries are …
Persistent link: https://www.econbiz.de/10013154573
median wealth plummeted by 44 percent over years 2007 to 2010. The inequality of net worth, after almost two decades of … in median net worth and the rise in overall wealth inequality over these years are largely traceable to the high leverage … inequality increased somewhat. The racial and ethnic disparity in wealth holdings widened considerably between 2007 and 2016, and …
Persistent link: https://www.econbiz.de/10012941966
. We disentangle, roughly, the contribution of inheritance, age and stochastic rates of capital return to wealth inequality …We present a mechanism to analytically generate a double Pareto distribution of wealth in a continuous time OLG model …, in particular to the Gini coefficient. We investigate the role of the fiscal and redistributive policies for wealth …
Persistent link: https://www.econbiz.de/10012759110