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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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The distribution of wealth and the marginal propensity to consume
Carroll, Christopher; Slacalek, Jirka; Tokuoka, Kiichi; … - In: Quantitative Economics 8 (2017) 3, pp. 977-1020
In a model calibrated to match micro- and macroeconomic evidence on household income dynamics, we show that a modest degree of heterogeneity in household preferences or beliefs is sufficient to match empirical measures of wealth inequality in the United States. The heterogeneity-augmented...
Persistent link: https://www.econbiz.de/10011995508
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Inherited Wealth and Demographic Aging
Onder, Harun; Pestieau, Pierre - 2016
The role of inherited wealth in modern economies has increasingly become under scrutiny. This study presents one of the first attempts to shed light on how demographic aging could shape this role. We show that, in the absence of retirement annuities, or for a given level of annuitization, both...
Persistent link: https://www.econbiz.de/10011522484
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Inherited wealth and demographic aging
Onder, Harun; Pestieau, Pierre - 2016
The role of inherited wealth in modern economies has increasingly become under scrutiny. This study presents one of the first attempts to shed light on how demographic aging could shape this role. We show that, in the absence of retirement annuities, or for a given level of annuitization, both...
Persistent link: https://www.econbiz.de/10011499894
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The distribution of wealth and the marginal propensity to consume
Carroll, Chris; Slacalek, Jirka; Tokuoka, Kiichi; … - In: Quantitative economics : QE ; journal of the … 8 (2017) 3, pp. 977-1020
In a model calibrated to match micro- and macroeconomic evidence on household income dynamics, we show that a modest degree of heterogeneity in household preferences or beliefs is sufficient to match empirical measures of wealth inequality in the United States. The heterogeneity-augmented...
Persistent link: https://www.econbiz.de/10011801783
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Heterogeneous Life-Cycle Profiles, Income Risk and Consumption Inequality
Primiceri, Giorgio; van Rens, Thijs - Institute for the Study of Labor (IZA) - 2007
Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of transitory shocks? The implications for consumption and welfare depend crucially on the answer to this question. We use CEX repeated cross-section data on consumption and income to...
Persistent link: https://www.econbiz.de/10005703321
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Heterogeneous life-cycle profiles, income risk and consumption inequality
Primiceri, Giorgio E.; Rens, Thijs van - Department of Economics and Business, Universitat … - 2006
Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of transitory shocks? The implications for consumption and welfare depend crucially on the answer to this question. We use CEX repeated cross-section data on consumption and income to...
Persistent link: https://www.econbiz.de/10005771959
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Inequality over the business cycle: Estimating income risk using micro-data on consumption
Primiceri, Giorgio; Rens, Thijs van - Department of Economics and Business, Universitat … - 2002
We use CEX repeated cross-section data on consumption and income, to evaluate the nature of increased income inequality in the 1980s and 90s. We decompose unexpected changes in family income into transitory and permanent, and idiosyncratic and aggregate components, and estimate the contribution...
Persistent link: https://www.econbiz.de/10005772245
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Heterogenous Life-Cycle Profiles, Income Risk and Consumption Inequality
Primiceri, Giorgio E; van Rens, Thijs - C.E.P.R. Discussion Papers - 2006
Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of transitory shocks? The implications for consumption and welfare depend crucially on the answer to this question. We use CEX repeated cross-section data on consumption and income to...
Persistent link: https://www.econbiz.de/10005661588
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How important is health inequality for lifetime earnings inequality?
Hosseini, Roozbeh; Kopecky, Karen A.; Zhao, Kai - 2021
Using a dynamic panel approach, we provide empirical evidence that negative health shocks reduce earnings. The effect is primarily driven by the participation margin and is concentrated in less educated individuals and those with poor health. We build a dynamic, general equilibrium, life cycle...
Persistent link: https://www.econbiz.de/10012653489