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 61% in Germany. The higher share in Germany narrows the wealth gap between … Germany, augmented wealth (US$651,000) is only 1.4 times higher. Further, the inclusion of pension wealth in household wealth …

until 2010 for the UK, France, Germany and USA, based on the dataset of Piketty and Zucman (2014). We contribute to the post … overall domestic demand has been wage-led in the USA, UK and Germany. Total investment responds positively to higher wage … effects are found to be positive and significant for consumption in the USA and UK, but weaker in France and Germany …