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gradual reduction due to declining wealth inequality. A number of extensions to the basic model allow to match our theory with … determined not only by wealth inequality but also by sectoral reallocation from agriculture to manufacturing. The model shows … that the dynamics of capital accumulation induce a reduction of wealth inequality, which is further accelerated by the …
Persistent link: https://www.econbiz.de/10012777737
bequests as potential determinants of the high level of wealth concentration in the US. Analyzing the joint distribution of …. Nonetheless, concentration of labor earnings is the primary source of wealth concentration in the US. This finding reflects the … high correlation between earnings and wealth in the data, as well as the fact that earnings are a major source of income …
Persistent link: https://www.econbiz.de/10012838468
This paper analyzes the intra-household distribution of wealth and welfare in the United States, within a theoretical … leads to wealth inequalities. However, the intra-household processes appear to be efficient in terms of welfare, as … spouses' estimated indirect utility. Our results shed light on the spouses' wealth shares and the sharing rule guiding the …
Persistent link: https://www.econbiz.de/10012912744
attainment independently predict household wealth in the Health and Retirement Study (HRS). This relationship is partly explained … gradient in wealth. We show that individuals with lower genetic scores are more prone to reporting "extreme beliefs" (e … wealth disparities not only through education and higher earnings, but also through their impact on the ability to process …
Persistent link: https://www.econbiz.de/10012962275
This paper revisits the standard model of labor supply under two additional assumptions: consumption requires time and some limited amount of work is enjoyable. Whereas introducing each assumption without the other one does not produce novel insights, combining them together does if the wage...
Persistent link: https://www.econbiz.de/10012963868
This paper reviews the long run developments in the distribution of personal income and wealth. It also discusses … the distribution of income and wealth over time? Are there common trends across countries or over the path of development …-called top income literature and new evidence on wealth concentration. The picture that emerges shows that inequality was …
Persistent link: https://www.econbiz.de/10013054572
We evaluate the effectiveness of a more progressive tax scheme in raising government revenues. We develop a life-cycle economy with heterogeneity and endogenous labor supply. Households face a progressive income tax schedule, mimicking the Federal Income tax, and flat-rate taxes that capture...
Persistent link: https://www.econbiz.de/10013049753
The rising importance of bequests as a source of personal income lead to renewed interest in the taxation of wealth … almost exclusively occurs for donors rather than recipients of wealth transfers. Beyond, tax planning is more prevalent for …
Persistent link: https://www.econbiz.de/10012943696
We examine the gender wealth gap with a focus on pension wealth and statutory pension rights. By taking into account … rights reduces the gender wealth gap. The data for our analysis come from the German Socio-Economic Panel (SOEP), one of the … few surveys collecting information on wealth and pension entitlements at the individual level. Pension wealth data are …
Persistent link: https://www.econbiz.de/10014076713
Inflows; this is true across the distribution of Total Inflows, as well as at all levels of net wealth.Gifts and inheritances … mitigate wealth inequality …
Persistent link: https://www.econbiz.de/10014083901