recent substantial rise (2008-2011) can be interpreted using a parsimonious 'buffer stock' model of consumption in the … actual wealth, with the target determined by credit conditions and uncertainty. An estimated structural version of the model … suggests that increased credit availability accounts for most of the long-term saving decline, while fluctuations in wealth and …

recent substantial rise (2008-2011) can be interpreted using a parsimonious buffer stock model of consumption in the presence … wealth, with the target determined by credit conditions and uncertainty. An estimated structural version of the model … suggests that increased credit availability accounts for most of the long-term saving decline, while fluctuations in wealth and …

consumption and that the shocks we analyze reduce consumption inequality on impact. …This paper sheds new light on the interactions between business cycles and the consumption distribution. We use … Consumer Expenditure Survey data and a factor model to characterize the cyclical dynamics of the consumption distribution. We …

The aim of this paper is to examine the concentration of wealth among the group of top wealth holders, defined as those … with wealth in excess of a high cut off. The paper begins by considering the definition of this cut off, analogous to the …, wealth tax data, and investment income tax data. It starts off from the world’s billionaires in 2006, but is particularly …

a common framework. We illustrate this by analyzing the role of income and wealth as dimensions of multidimensional well … the country ranking depending on the measure. While in Germany wealth predominantly contributes to the intensity of …

Using data from the Survey of Consumer Finances, this paper updates and extends previous research on the racial wealth … gap in the United States. We explore several hypotheses that help explain differential wealth accumulation by racial … to the literature. We find that observable factors account for the entire wealth gap between white and Hispanic families …

reducing income inequality in Germany. The welfare analysis is based on a model of age-dependent human capital accumulation … transition until 2080. If policy aims at reducing the inequality of lifetime income among people of the same generation … to compensate its costs. -- Early education ; demographic change ; inequality over the life span ; redistributive policy …