system would have been to perpetuate wealth and income inequality in the pre-retirement phase into the post retirement phase … beneficiaries of the effective tax benefits of the Pillar 2 system. This paper quantifies the effects on wealth and income …

remain. This is particularly true for the distribution of net wealth which is of special importance for the well-being of … individuals. Wealth provides utility in a number of ways, for instance, by acting as a buffer against negative income shocks …. Using the wealth component of the German Socio-Economic Panel (GSOEP), we find that, on average, members of western …

their wealth ownership. Using data from the Household Finance and Consumption Survey (HFCS), we document a positive average … migrant wealth gap between migrant and native households. However, the raw gap is almost negligible for second generation … migrant households, whereas it rises across the unconditional net wealth distribution for first generation migrant households …

. Finally, substantial crosscountry heterogeneity in marginal propensities to consume out of income and wealth components calls …