Housing Wealth Accumulation And Wealth Distribution Evidence And Stylized Facts
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Housing Wealth Accumulation And Wealth Distribution Evidence And Stylized Facts
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Author : Orsetta Causa
language : en
Publisher:
Release Date : 2019
Housing Wealth Accumulation And Wealth Distribution Evidence And Stylized Facts written by Orsetta Causa and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Economics categories.
Abstract: This paper produces new evidence and stylised facts on housing, wealth accumulation and wealth distribution, relying on an in-depth analysis of micro-based data on household wealth across OECD countries. The analysis addresses several 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 across socio-economic groups? ii) What is the incidence of mortgage debt across households and how does this vary across socio-economic groups? What is the impact of mortgage debt on access to homeownership and wealth accumulation, and on debt overburden and financial risks among vulnerable groups? iii) Is housing a vehicle for wealth accumulation? Can it be a barrier to residential mobility? iv) Is there a link between homeownership and wealth inequality? Between inequality in housing wealth and in total wealth? A key policy issue addressed in this paper is whether and how housing-related policies affect wealth distribution. Another important issue is whether housing-related policies raise potential trade-offs between equity, or inequality reduction, and other policy objectives such as employment and productivity growth as well as macroeconomic resilience. Informed by the stylised facts and existing evidence, this paper discusses preliminary policy implications of housing reform to promote inclusiveness and social mobility, to enhance efficiency in the allocation of labour and capital and to strengthen macroeconomic resilience
Housing Wealth Effects
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Author : Eric S. Belsky
language : en
Publisher:
Release Date : 2004
Housing Wealth Effects written by Eric S. Belsky and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Consumer behavior categories.
Wealth And Homeownership
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Author : Mariacristina Rossi
language : en
Publisher: Springer
Release Date : 2018-08-27
Wealth And Homeownership written by Mariacristina Rossi and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-08-27 with Business & Economics categories.
In almost every country, wealth is predominantly constituted by housing equity, but what are the possible risks and how does wealth accumulation vary across countries? In this timely book, Rossi and Sierminska analyse the complex relationship between gender, wealth and homeownership. By providing a conceptual framework to insert homeownership and housing decisions within an economic rationale, the authors explore how gender and family types have shaped wealth accumulation and homeownership.
Wealth Accumulation And Housing Choices Of Young Households
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Author : Donald R. Haurin
language : en
Publisher:
Release Date : 1995
Wealth Accumulation And Housing Choices Of Young Households written by Donald R. Haurin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Homeowners categories.
This paper describes the wealth accumulation of American youth and relates this behavior to their eventual housing choices. We develop a data set that links wealth profiles of youth with constant- quality house prices and tenure choice. A panel data set is compiled for youth age 20-33 for the years 1985 through 1990. We construct wealth profiles for each household over the six year period and indicate how wealth varies with labor supply, marriage, fertility, gender, education, race/ethnicity, and tenure choice. We find renters' wealth accumulates rapidly in the year before and year of first homeownership. The factors related to this increase are marriage, increased labor supply by married women, and gifts/inheritances. Of particular interest is the finding of an inverse U-shaped relationship between the local real price of housing and middle and upper income renters' wealth and married female labor supply. Also, youth in high housing cost localities tend to live in groups at a greater rate compared to those in low cost areas.
Heterogeneity And Persistence In Returns To Wealth
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Author : Andreas Fagereng
language : en
Publisher: International Monetary Fund
Release Date : 2018-07-27
Heterogeneity And Persistence In Returns To Wealth written by Andreas Fagereng and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-27 with Business & Economics categories.
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, during our sample period individuals earn markedly different average returns on their financial assets (a standard deviation of 14%) and on their net worth (a standard deviation of 8%). Second, heterogeneity in returns does not arise merely from differences in the allocation of wealth between safe and risky assets: returns are heterogeneous even within asset classes. Third, returns are positively correlated with wealth: moving from the 10th to the 90th percentile of the financial wealth distribution increases the return by 3 percentage points - and by 17 percentage points when the same exercise is performed for the return to net worth. Fourth, wealth returns exhibit substantial persistence over time. We argue that while this persistence partly reflects stable differences in risk exposure and assets scale, it also reflects persistent heterogeneity in sophistication and financial information, as well as entrepreneurial talent. Finally, wealth returns are (mildly) correlated across generations. We discuss the implications of these findings for several strands of the wealth inequality debate.
Oecd Guidelines For Micro Statistics On Household Wealth
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2013-06-21
Oecd Guidelines For Micro Statistics On Household Wealth written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-21 with categories.
This publication presents an internationally agreed set of guidelines for producing micro statistics on household wealth, It addresses the common conceptual, definitional and practical problems, and are meant to improve the comparability of country data.
The Routledge Handbook Of Housing Economics
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Author : Kenneth Gibb
language : en
Publisher: Taylor & Francis
Release Date : 2024-02-29
The Routledge Handbook Of Housing Economics written by Kenneth Gibb and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-02-29 with Architecture categories.
The Routledge Handbook of Housing Economics brings together an international panel of contributors to present a comprehensive overview of this important field within economics. Housing occupies an increasingly central role in modern society, dominating consumer assets and spending, forming an important part of social policy and being a large enough market to impact the macroeconomy. This handbook tackles these themes, along with other critical issues such as intergenerational housing inequality and the efficiency and social justice of housing interventions. This volume is structured in four main parts. It starts with eight chapters in microeconomics and housing. This is followed by two shorter sections on macroeconomics and finance. The final main part of the book is concerned with eight chapters on policy dimensions. While many of the chapters are rooted in mainstream economics and finance applied to housing, there are also chapters stressing institutional, behavioural and political economy orientations, as well as those that explicitly challenge more mainstream accounts. The contributing authors are based in Europe, North America and Australia and all draw in international literature to provide state of the art reviews of their topics. This carefully curated handbook will be essential reading for advanced students, researchers and policy makers in housing economics, urban economics, urban planning, public economics and real estate economics and finance. Chapter 22 of this book is freely available as a downloadable Open Access PDF at http://www.taylorfrancis.com under a Creative Commons Attribution-Non Commercial-No Derivatives (CC-BY-NC-ND) 4.0 license.
Wealth Inequality And Private Savings The Case Of Germany
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Author : Mai Dao
language : en
Publisher: International Monetary Fund
Release Date : 2020-06-26
Wealth Inequality And Private Savings The Case Of Germany written by Mai Dao and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-26 with Business & Economics categories.
This paper explores the interaction between corporate ownership concentration and private savings, and by extension, the current account balance in Germany. As high corporate savings largely reflected capital income accruing to wealthy households and increasingly retained in closely-held firms, the buildup of external imbalances in Germany has been accompanied by widening top income inequality, rising private savings and compressed consumption rates. Rising corporate profits in an environment of high business wealth concentration account for 90 percent of the rise in the private savings rate and a third of the increase in the German current account surplus over 1999–2016.
China S Age Of Abundance
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Author : Feng Wang
language : en
Publisher: Cambridge University Press
Release Date : 2024-03-31
China S Age Of Abundance written by Feng Wang 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 2024-03-31 with Business & Economics categories.
Shifting the perspective to rural populations as drivers of global change, Wang Feng reconsiders China's meteoric rise in prosperity.
Housing And Inclusive Growth
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2020-09-10
Housing And Inclusive Growth written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-10 with categories.
Housing is key to inclusive growth. It is the biggest spending item of household budgets, the main driver of wealth accumulation and biggest source of debt for most households. Housing and the neighbourhood in which people live also have important implications for individual health, employment and educational outcomes – effects that can begin in childhood and can last a lifetime.