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fraction of their income. The major difficulty in empirically assessing the relationship between incomes and saving rates is to … construct a credible proxy for long-run income - purged of transitory fluctuations and measurement error. The Canadian Family … reliable long-run income proxies. Our empirical analysis suggests that the estimated relationship between saving rates and long …
Persistent link: https://www.econbiz.de/10010500251
income measures (such as after-tax income) in both 1999 and 2005. The median household's economic well-being was lower in …
Persistent link: https://www.econbiz.de/10010281720
This paper presents a comparative analysis of the approaches to poverty based on income and wealth that have been … proposed in the literature. Two types of approaches are considered: those that look at income and wealth separately when … argue that the higher correlation between income and wealth in the United States contributes to explaining the greater …
Persistent link: https://www.econbiz.de/10010286491
Recent experimental studies suggest that risk aversion is negatively related to cognitive ability. In this paper we report evidence that this relation might be spurious. We recruit a large subject pool drawn from the general Danish population for our experiment. By presenting subjects with...
Persistent link: https://www.econbiz.de/10013208638
We use survey data to demonstrate that individuals extrapolate from their peer groups when forming estimates about aggregate economic outcomes (e.g. the aggregate homeownership rate). In a first approach, we follow the previous literature and construct hypothetical peer groups using information...
Persistent link: https://www.econbiz.de/10013370144
law, the transfer tax system, the income distribution, and the welfare state. We also estimate models with family fixed …. The empirical estimates show that bequests are not used to compensate for income differences between children, suggesting …
Persistent link: https://www.econbiz.de/10011396725
The objective of this paper is to study to what extent parents divide their estates unequally between their children. Unequal sharing of parental transfers is, for example, a necessary condition for theories of altruistic (dynastic) behavior to hold. I use a new data set based on the estate...
Persistent link: https://www.econbiz.de/10010321579
It is a well-known criticism that due to its exponential distribution, survey data on wealth is hardly reliable when it … the number of households possessing a net wealth greater than four million Euros as well as their aggregate wealth … suggest that the alleged non-observation bias is considerable, accounting for about one quarter of total net wealth. The …
Persistent link: https://www.econbiz.de/10010368262
Although people's perception of (income or wealth) inequality has important e_ects on their decisions as economic … that is based on the assumption that people typically do not observe the entire income (wealth) distribution and that their … will change along positions in the income distribution and that for a speci_c position various dimensions of inequality …
Persistent link: https://www.econbiz.de/10013370133
retrieved from the Survey of Household Income and Wealth published by the Bank of Italy. The empirical analysis confirms both …-depressing effects of raising inequality via debt and wealth-based consumption. Likewise, it is argued that decreasing personal income …This paper develops a stylized short-run neo-Kaleckian model incorporating personal income inequality and income taxes …
Persistent link: https://www.econbiz.de/10012109597