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Although older generations have substantially more wealth than their recent predecessors did at the same age, younger … circumstances can rationalise slowing generation-on-generation wealth growth. I find no evidence that later-born generations are less … predicted to have higher consumption, despite accumulating no greater wealth, than their predecessors because their earnings are …
Persistent link: https://www.econbiz.de/10014373405
generate enough concentration at the upper tail of the wealth distribution. …
Persistent link: https://www.econbiz.de/10011872415
We use detailed micro information at household level from the Wealth and Assets Survey to construct measures of wealth … evolution of wealth inequality measures. Our findings suggest that expansionary monetary policy shocks lead to an increase in … wealth inequality and contributed significantly to its fluctuations. This effect is heterogenous across the wealth …
Persistent link: https://www.econbiz.de/10012120339
of homeownership in Malta, the median net wealth in Malta was estimated to be significantly higher than in the euro area …
Persistent link: https://www.econbiz.de/10012253036
Understanding the drivers of wealth transfers during life is crucial to understanding the intergenerational … on this, we analyse the relationships between giving and receiving significant wealth transfers and experiencing key life … events. We use newly-available data from the UK Wealth and Assets Survey to investigate recipients’ self-reported transfer …
Persistent link: https://www.econbiz.de/10014372112
of homeownership in Malta, the median net wealth in Malta was estimated to be significantly higher than in the euro area …
Persistent link: https://www.econbiz.de/10014416083
During the Great Recession, the collapse of consumption across the U.S. varied greatly but systematically with house-price declines. We find that financial distress among U.S. households amplified the sensitivity of consumption to house-price shocks. We uncover two essential facts: (1) the...
Persistent link: https://www.econbiz.de/10012137091
Using a model with housing search, endogenous credit constraints, and mortgage default, this paper accounts for the housing crash from 2006 to 2011 and its implications for aggregate and cross-sectional consumption during the Great Recession. Left tail shocks to labor market uncertainty and...
Persistent link: https://www.econbiz.de/10011782612
Persistent link: https://www.econbiz.de/10012504495
We specify and estimate a lifecycle model of consumption, housing demand and labor supply in an environment where individuals may file for bankruptcy or default on their mortgage. Uncertainty in the model is driven by house price shocks, education specific productivity shocks, and catastrophic...
Persistent link: https://www.econbiz.de/10013167646