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Is There Really an Inflation Tax? Not For the Middle Class and the Ultra-Wealthy
Wolff, Edward N. - National Bureau of Economic Research - 2023
One hallmark of U.S. monetary policy since the early 1980s has been moderation in inflation (at least, until recently …). How has this affected household well-being? The paper first develops a new model to address this issue. The inflation tax … long as inflation is positive). The inflation gain on household wealth is the revaluation resulting from asset price …
Persistent link: https://www.econbiz.de/10014421200
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Trends in aggregate household wealth in the US : 1900 - 83
Wolff, Edward N. - In: The review of income and wealth : journal of the … 35 (1989) 1, pp. 1-29
Persistent link: https://www.econbiz.de/10001060822
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The joint distribution of net worth and pension wealth in Germany
Bönke, Timm; Grabka, Markus M.; Schröder, Carsten; … - 2016
Research on wealth inequality usually focuses on real and financial assets, while pension wealth – the present value of future pension entitlements from public and company pension schemes – receives little attention. This is astonishing, given that pension plans play an important role for...
Persistent link: https://www.econbiz.de/10011509132
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A head-to-head comparison of augmented wealth in Germany and the United States
Bönke, Timm; Grabka, Markus M.; Schröder, Carsten; … - 2017
We provide levels of, compositions of, and inequalities in household augmented wealth - defined as the sum of net worth and pension wealth - for two countries: the United States and Germany. Pension wealth makes up a considerable portion of household wealth: about 48% in the United States and...
Persistent link: https://www.econbiz.de/10011622210
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The Great Recession and racial inequality : evidence from measures of economic well-being
Masterson, Thomas; Zacharias, Ajit; Rios-Avila, Fernando; … - 2017
, using the period from 1989 to 2007 for historical context. We find that while racial inequality increased from 1989 to 2010 …
Persistent link: https://www.econbiz.de/10011591483
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Recent trends in household wealth in the United States : rising debt and the middle-class squeeze ; an update to 2007
Wolff, Edward N. - 2010
I find here that the early and mid-aughts (2001 to 2007) witnessed both exploding debt and a consequent “middle-class squeeze.” Median wealth grew briskly in the late 1990s. It grew even faster in the aughts, while the inequality of net worth was up slightly. Indebtedness, which fell...
Persistent link: https://www.econbiz.de/10003943163
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Inheritances and the distribution of wealth or whatever happened to the great inheritance boom?
Wolff, Edward N.; Gittleman, Maury B. - 2011
We found that on average over the period from 1989 to 2007, 21 percent of American households at a given point of time received a wealth transfer and these accounted for 23 percent of their net worth. Over the lifetime, about 30 percent of households could expect to receive a wealth transfer and...
Persistent link: https://www.econbiz.de/10008907281
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The world distribution of household wealth
Davies, James B.; Sandström, Susanna; Shorrocks, Anthony F. - 2008
There has been much recent research on the world distribution of income, but also growing recognition of the importance of other contributions to well-being, including those of household wealth. Wealth is important in providing security and opportunity, particularly in poorer countries that lack...
Persistent link: https://www.econbiz.de/10009011700
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Household wealth and the measurement of economic well-being in the United States
Wolff, Edward N. (contributor); Zacharias, Ajit (contributor) - 2006
The standard official measure of household economic well-being in the United States is gross money income. The general consensus is that such measures are limited because they ignore other crucial determinants of well-being. We modify the standard measure to account for one such determinant:...
Persistent link: https://www.econbiz.de/10003346727
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Class structure and economic inequality
Wolff, Edward N. (contributor); Zacharias, Ajit (contributor) - 2007
Existing empirical schemas of class structure do not specify the capitalist class in an adequate manner. We propose a schema in which the specification of capitalist households is based on wealth thresholds. Individuals in noncapitalist households are assigned class locations based on their...
Persistent link: https://www.econbiz.de/10003721075