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Income and Wealth Inequality in America, 1949-2016

Kuhn, Moritz - 2018

This paper introduces a new long-run dataset based on archival data from historical waves of the Survey of Consumer Finances. The household-level data allow us to study the joint distributions of household income and wealth since 1949. We expose the central importance of portfolio composition...

Persistent link: https://www.econbiz.de/10012932905

Distributional Effects of the Wealth Tax Under a Lifetime-Dynastic Income Concept

Halvorsen, Elin - 2017

Recent books by Thomas Piketty (Piketty, 2014) and Anthony Atkinson (Atkinson, 2015) have brought the annual wealth tax back on the policy agenda. Both authors suggest using the annual wealth tax to supplement the redistributional effects of the income tax, assigning it a role as a...

Persistent link: https://www.econbiz.de/10012947992

The Joint Distribution of Wealth and Income Risk : Evidence from Bern

Krapf, Matthias - 2018

Using detailed tax data from the Swiss canton of Bern, I examine how changes in wealth are related to income risk. I find that only among elderly individuals high kurtosis of income risk may be positively correlated with wealth accumulation. Additionally, I document that a substantial share of...

Persistent link: https://www.econbiz.de/10012912679

Wealth Inequality and Homeownership in Europe

Kaas, Leo - 2015

The recently published Household Finance and Consumption Survey has revealed large differences in wealth inequality between the countries of the Euro area. We find a strong negative correlation between wealth inequality and homeownership rates across countries. We use two decomposition methods...

Persistent link: https://www.econbiz.de/10013014361

Pro-Rich Inflation in Europe : Implications for the Measurement of Inequality

Gürer, Eren - 2018

indices and reveal the existence of a pro-rich inflation in Europe. Particularly, over the period 2001-15, the consumption … those of the richest decile. We find that ignoring the differential inflation across the distribution underestimates the … large enough to alter the inequality ranking of numerous countries. The average inflation effect we detect is almost as …

Persistent link: https://www.econbiz.de/10012914674

Monetary Policy Through Production Networks : Evidence from the Stock Market

Ozdagli, Ali - 2017

Monetary policy shocks have a large impact on aggregate stock market returns in narrow event windows around press releases by the Federal Open Market Committee. We use spatial autoregressions to decompose the overall effect of monetary policy shocks into a direct (demand) effect and an indirect...

Persistent link: https://www.econbiz.de/10012953959

Top Incomes, Rising Inequality, and Welfare

Lansing, Kevin J.; Markiewicz, Agnieszka - 2021

We introduce permanently-shifting income shares into a standard growth model with two types of agents. Capital owners represent the top quintile of U.S. households while workers represent the remainder. Our tractable model allows us to exactly replicate the observed U.S. time paths of the top...

Persistent link: https://www.econbiz.de/10013315527

Bequests, Taxation and the Distribution of Wealth in a General Equilibrium Model

Kleiber, Christian; Sexauer, Martin; Wälde, Klaus - 2021

This paper examines the role of bequests and of taxation on bequests for the distribution of wealth. We investigate a model with overlapping generations and heterogenous households where parents derive utility directly from their bequests. Using the coefficient of variation as the measure of...

Persistent link: https://www.econbiz.de/10013317577

Wealth Inequality and Externalities from Ex Ante Skill Heterogeneity

Angelopoulos, Konstantinos - 2017

This paper develops an incomplete markets model with state dependent (Markovian) stochastic earnings processes and ex ante skill heterogeneity corresponding to being university educated or not. Using the Wealth and Assets Survey for Great Britain, we find that the university educated group has...

Persistent link: https://www.econbiz.de/10012949580

An Allegory of the Political Influence of the Top 1%

De Donder, Philippe; Roemer, John E. - 2021

We study how rich shareholders can use their economic power to deregulate firms that they own, thus skewing the income distribution towards themselves. Agents differ in productivity and choose how much labor to supply. High productivity agents also own shares in the productive sector and thus...

Persistent link: https://www.econbiz.de/10013315687