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Poverty is generally defined as income or expenditure insufficiency, but the economic condition of a household also … depends on its real and financial asset holdings. This paper investigates measures of poverty that rely on indicators of … household net worth. We review and assess two main approaches followed in the literature: income-net worth measures and asset-poverty …
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Recent studies of economic inequality almost always separately examine income, consumption, and wealth inequality and, hence, miss the important synergy among the three measures explicit in the life-cycle budget constraint. Using Panel Study of Income Dynamics data from 1999 through 2013, we...
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