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Wealth inequality and homeownership in Europe
Kaas, Leo; Kocharkov, Georgi; Preugschat, Edgar - 2015
through housing wealth. …
Persistent link: https://www.econbiz.de/10011334237
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Housing, wealth accumulation and wealth distribution : evidence and stylized facts
Causa, Orsetta; Woloszko, Nicolas; Leite, David - 2019
This paper produces new evidence and stylised facts on housing, wealth accumulation and wealth distribution, relying on … questions: i) How is homeownership and housing tenure distributed across the population along various socio …-economic characteristics such as income, wealth and age? What is the weight of housing in households’ balance sheets and how does this vary …
Persistent link: https://www.econbiz.de/10012202943
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Retirement sorted? : the adequacy and optimality of wealth among the near-retired
Crawford, Rowena; O'Dea, Cormac - 2014
of households hold more wealth than our model suggests is optimal and that this would still be true even if housing …
Persistent link: https://www.econbiz.de/10010402537
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Implications of wealth heterogeneity for macroeconomics
Carroll, Chris - 2012
Today's dominant strain of macroeconomic models supposes that aggregate consumption can be understood by assuming the existence of a 'representative agent' whose behavior rationalizes observed outcomes. But representative agent models yield embarrassingly implausible (and empirically inaccurate)...
Persistent link: https://www.econbiz.de/10009535933
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Older or Wealthier? The Impact of Age Adjustments on the Wealth Inequality Ranking of Countries
Almås, Ingvild - 2009
Differences in individual wealth holdings are widely viewed as a driving force of economic inequality. However, as this finding relies on cross-section data, we may confuse older with wealthier. We propose a new method to adjust for age effects in cross-sections, which eliminates transitory...
Persistent link: https://www.econbiz.de/10013159881
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Heterogeneity and Persistence in Returns to Wealth
Fagereng, Andreas - 2019
We provide a systematic analysis of the properties of individual returns to wealth using twenty years of population data from Norway's administrative tax records. We document a number of novel results. First, in a given cross-section, individuals earn markedly different returns on their assets,...
Persistent link: https://www.econbiz.de/10012901496
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The Distribution of Wealth and the Marginal Propensity to Consume
Carroll, Christopher D. - 2014
We present a macroeconomic model calibrated to match both microeconomic and macroeconomic evidence on household income dynamics. When the model is modified in a way that permits it to match empirical measures of wealth inequality in the U.S., we show that its predictions (unlike those of...
Persistent link: https://www.econbiz.de/10013057669
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Optimal Financial Knowledge and Wealth Inequality
Lusardi, Annamaria - 2015
Using a stochastic life cycle model with endogenous financial knowledge accumulation, we show that financial knowledge is a key determinant of wealth inequality. The mechanism we posit is that financial knowledge enables individuals to better allocate re- sources over their lifetimes in a world...
Persistent link: https://www.econbiz.de/10013025532
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Older or wealthier? : the impact of age adjustments on the wealth inequality ranking of countries
Almås, Ingvild; Mogstady, Magne - 2009
Differences in individual wealth holdings are widely viewed as a driving force of economic inequality. However, as this finding relies on cross-section data, we may confuse older with wealthier. We propose a new method to adjust for age effects in cross-sections, which eliminates transitory...
Persistent link: https://www.econbiz.de/10011635021
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Heterogeneity and persistence in returns to wealth
Fagereng, Andreas; Guiso, Luigi; Malacrino, Davide; … - 2019
We provide a systematic analysis of the properties of individual returns to wealth using twelve years of population data from Norway's administrative tax records. We document a number of novel results. First, individuals earn markedly different average returns on their net worth (a standard...
Persistent link: https://www.econbiz.de/10012030523