A Model Of Economic Mobility And The Distribution Of Wealth
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A Model Of Economic Mobility And The Distribution Of Wealth
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Author : Ricardo T. Fernholz
language : en
Publisher:
Release Date : 2016
A Model Of Economic Mobility And The Distribution Of Wealth written by Ricardo T. Fernholz and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
This paper introduces new techniques to obtain a closed-form rank-by-rank characterization of the equilibrium distribution of wealth in a model in which finitely lived households face uninsurable idiosyncratic investment risk. A central result is that the extent of inequality is determined entirely by two factors. The first factor, household exposure to idiosyncratic investment risk, increases inequality. The second factor, cross-sectional mean reversion of household wealth, decreases inequality. We show that economic mobility is decreasing in inequality and increasing in mean reversion, a result that is consistent with recent empirical observations about the geographic variation in mobility that exists both domestically and internationally. Our approach allows us to examine the implications of increased market completeness in the form of a risk-sharing subgroup of households. We show that a risk-sharing subgroup rises or falls in the equilibrium wealth distribution depending on the level of inequality, and that its presence raises welfare and the rate of wealth accumulation for all households in the economy.
Measuring Distribution And Mobility Of Income And Wealth
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Author : Raj Chetty
language : en
Publisher: University of Chicago Press
Release Date : 2022-11-16
Measuring Distribution And Mobility Of Income And Wealth written by Raj Chetty and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-11-16 with Business & Economics categories.
"Economic research on the efficient allocation of resources has a long history. Increasingly, attention has turned to inequality in the distribution of personal resources and outcomes, and whether individuals or children are locked in their respective places in this distribution or whether mobility is possible. Research focuses not only on measuring inequality and mobility, but on understanding its historical, economic, and social determinants, and how policies might affect these distributions. This volume explores the latest developments in our understanding of income and wealth distribution and mobility. The first section addresses observed patterns of income inequality and shifts in compensation and fluidity that drive or reinforce income inequality. The next focuses on wealth inequality, including the difficulties of defining and measuring wealth. The third section presents new evidence on the intergenerational transmission of inequality and the mechanisms that sustain these patterns. A fourth set of chapters studies the mitigation of inequality, including variations in intervention strategies across time and geography. Finally, issues related to using national accounting data in comparison with survey and microdata are examined. Lack of data, particularly wealth data at the individual or household level in most countries, presents a challenge. Momentum has been building to link multiple sources of survey, administrative and other data in order to mitigate measurement problems in single sources and to provide more comprehensive data on income and wealth"--
Wealth Mobility
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Author : J. R. Kearl
language : en
Publisher:
Release Date : 1981
Wealth Mobility written by J. R. Kearl and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1981 with Distribution (Economic theory). categories.
We consider the problems that may arise when cross sectional data alone are used for inferences about individual welfare, the existence of elites, the possibilities of class boundaries, the openness of a society, etc. We also consider problems with alternative measures of socio-economic position. We then use a sample of 2400 households observed over one or two decade intervals together with data on the population of households at each observation point to examine mobility within the distribution of wealth for an almost closed economy, Utah, 1850-1870. We use information on households to examine those characteristics that contribute to mobility. We find considerable mobility, much apparently stochastic, within quite highly skewed distributions of wealth that also exhibit increasing inequality through time. [Resumen de autor]
New Markets New Opportunities
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Author : Nancy Birdsall
language : en
Publisher: Brookings Institution Press
Release Date : 2001-09-19
New Markets New Opportunities written by Nancy Birdsall and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-09-19 with Social Science categories.
A Brookings Institution Press and Carnegie Endowment for International Peace publication Many of the countries that have recently converted to a market-based economic system have also experienced an alarming increase in income inequality — a widening gap between the haves and have nots. But to what extent is the increase in inequality also increasing the opportunities for economic advancement — particularly for those at the bottom of the economic ladder? Does the creation of greater opportunities make a region's move to the market politically acceptable? And, if opportunities don't increase along with inequality, will it eventually cause a political backlash against a country's market policies? This book highlights the importance of finding the answers to those questions by examining the issues of social mobility and opportunity as an essential part of the income inequality puzzle. It provides a summary of the latest research on the economics and politics of social mobility in both developed and emerging market economies, including the conceptual issues involved and the challenges of accurately documenting trends. The book concludes with a discussion of the economics of opportunity and mobility in Latin America and Eastern Europe, and the politics and perceptions of mobility in the two regions.
Handbook Of Income Distribution
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Author : Anthony B. Atkinson
language : en
Publisher: Elsevier
Release Date : 2014-12-30
Handbook Of Income Distribution written by Anthony B. Atkinson and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-30 with Social Science categories.
What new theories, evidence, explanations, and policies have shaped our studies of income distribution in the 21st century? Editors Tony Atkinson and Francois Bourguignon assemble the expertise of leading authorities in this survey of substantive issues. In two volumes they address subjects that were not covered in Volume 1 (2000), such as education, health and experimental economics; and subjects that were covered but where there have been substantial new developments, such as the historical study of income inequality and globalization. Some chapters discuss future growth areas, such as inheritance, the links between inequality and macro-economics and finance, and the distributional implications of climate change. They also update empirical advances and major changes in the policy environment. The volumes define and organize key areas of income distribution studies Contributors focus on identifying newly developing questions and opportunities for future research The authoritative articles emphasize the ways that income mobility and inequality studies have recently gained greater political significance
Wealth In America
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Author : Lisa A. Keister
language : en
Publisher: Cambridge University Press
Release Date : 2000-06-19
Wealth In America written by Lisa A. Keister and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-06-19 with Business & Economics categories.
Utilizing existing data and new research methods, Keister examines househould wealth distribution from 1962 to 1995.
The Economics Of Inequality Discrimination Poverty And Mobility
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Author : Robert Rycroft
language : en
Publisher: M.E. Sharpe
Release Date : 2009-07-01
The Economics Of Inequality Discrimination Poverty And Mobility written by Robert Rycroft and has been published by M.E. Sharpe this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-07-01 with Business & Economics categories.
Thoroughly classroom tested, this introductory-level text surveys what economists have to say about inequality (or income and wealth distribution), poverty, mobility - both intragenerational (within careers), and intergenerational (between generations) - and discrimination (on the basis of race, ethnicity, age, gender, and many other factors) in the United States. This text brings the undergraduate treatment of these issues up-to-date, featuring detailed, but not mathematical, examination of the economic theory underlying the analysis. There is a greater emphasis on mobility, on wealth accumulation, distribution and inheritance, and on discrimination law than in other texts. The author provides full and fair treatment of competing sides in several of the controversial issues in the field, written in such a way that instructors can use the text material to motivate a variety of classroom discussions. An Instructor's Manual featuring solutions to the end-of-chapter questions is available online to adoptors.
The Economics Of Inequality Discrimination Poverty And Mobility
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Author : Robert S. Rycroft
language : en
Publisher: Routledge
Release Date : 2014-12-18
The Economics Of Inequality Discrimination Poverty And Mobility written by Robert S. Rycroft and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-18 with Business & Economics categories.
Thoroughly classroom tested, this introductory-level text surveys what economists have to say about inequality (or income and wealth distribution), poverty, mobility - both intragenerational (within careers), and intergenerational (between generations) - and discrimination (on the basis of race, ethnicity, age, gender, and many other factors) in the United States. This text brings the undergraduate treatment of these issues up-to-date, featuring detailed, but not mathematical, examination of the economic theory underlying the analysis. There is a greater emphasis on mobility, on wealth accumulation, distribution and inheritance, and on discrimination law than in other texts. The author provides full and fair treatment of competing sides in several of the controversial issues in the field, written in such a way that instructors can use the text material to motivate a variety of classroom discussions. An Instructor's Manual featuring solutions to the end-of-chapter questions is available online to adoptors.
Inequality Of Opportunity
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Author : Juan Gabriel Rodríguez
language : en
Publisher: Emerald Group Publishing
Release Date : 2011-10-12
Inequality Of Opportunity written by Juan Gabriel Rodríguez and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10-12 with Business & Economics categories.
Eight papers, both theoretical and applied, on the concept of equality of opportunity which says that a society should guarantee its members equal access to advantage regardless of their circumstances, while holding them responsible for turning that access into actual advantage by the application of effort.
Great Gatsby And The Global South
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Author : Diding Sakri
language : en
Publisher: Cambridge University Press
Release Date : 2023-04-30
Great Gatsby And The Global South written by Diding Sakri and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-04-30 with Business & Economics categories.
In the Global South economic mobility across generations or intergenerational economic mobility is in and of itself an important topic for research with consequences for policy. It concerns the 'stickiness' or otherwise of inequality because mobility is concerned with the extent to which children's economic outcomes are dependent on their parents' economic outcomes. Scholars have estimated levels of intergenerational mobility in many developed countries. Fewer estimates are available for developing countries, where mobility matters more due to starker differences in living standards. This Element surveys the area, conceptually and empirically; it presents a new estimate for a developing country, namely Indonesia; it discusses the 'Great Gatsby Curve' and highlights the different positions of developed and developing countries. Finally, it presents a theoretical framework to explain the drivers of mobility and the stickiness or otherwise of inequality across time. This title is also available as Open Access on Cambridge Core.