strategic default. Wealth data suggest a limited scope for strategic default, with only one-third of underwater defaulters …

States. However, these illiquid, non-market forms of wealth are typically excluded from measures of net worth. To the extent … that these broadly held resources substitute for savings, measures of wealth inequality that do not account for DB pensions … and Social Security may be overstated. This paper develops an alternative, expanded wealth concept, augmenting precise net …

Well known research based on capitalized income tax data shows robust growth in wealth concentration in the late 2000s …. We show that these robust growth estimates rely on an assumption---homogeneous rates of return across the wealth … interest-bearing assets), wealth concentration estimates in 2011 fall from 40.5% to 33.9%. These estimates are consistent in …

We analyse the effect of shocks to housing wealth and income before and after the Great Recession. We combine datasets … containing information on expenditure, income, wealth and debt in a synthetic panel to understand how household indebtedness … affects the response to income and wealth shocks.We find evidence for both a housing wealth effect and income shocks …

This paper presents a comparative analysis of the approaches to poverty based on income and wealth that have been … proposed in the literature. Two types of approaches are considered: those that look at income and wealth separately when … argue that the higher correlation between income and wealth in the United States contributes to explaining the greater …

We use recently published long-run microdata (SCF+) to investigate generational wealth dynamics in the U.S. over the … last seven decades. We document that the median wealth of people born in the first half of the 20th century increased from … one ten-year birth cohort to the next. For people born in the second half of the century, median wealth successively …

financial wealth due to realized returns lead to a small decline in the equity share. In a standard homothetic life-cycle model … with human capital and constant risk aversion, the portfolio responses to these two wealth shocks should be of equal … magnitude and opposite sign. The positive net effect in the data is evidence for risk aversion that decreases in total wealth. I …

This paper presents a comparative analysis of the approaches to poverty based on income and wealth that have been … proposed in the literature. Two types of approaches are considered: those that look at income and wealth separately when … argue that the higher correlation between income and wealth in the United States contributes to explaining the greater …

States. However, these illiquid, non-market forms of wealth are typically excluded from measures of net worth. To the extent … that these broadly held resources substitute for savings, measures of wealth inequality that do not account for DB pensions … and Social Security may be overstated. This paper develops an alternative, expanded wealth concept, augmenting precise net …

light on the impact of intergenerational transfers on household wealth disparities and on possible reasons for the … substantial differences in household wealth disparities among the 4 countries. Almost all of the evidence I present suggests that … intergenerational transfers have a disequalizing impact on household wealth disparities and promote the transmission of household wealth …