Wealth Effects On Consumption Across The Wealth Distribution
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Wealth Effects On Consumption Across The Wealth Distribution
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Author : Luc Arrondel
language : en
Publisher:
Release Date : 2015
Wealth Effects On Consumption Across The Wealth Distribution written by Luc Arrondel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
Analyzing The Effects Of Financial And Housing Wealth On Consumption Using Micro Data
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Author : Carlos Caceres
language : en
Publisher: International Monetary Fund
Release Date : 2019-05-24
Analyzing The Effects Of Financial And Housing Wealth On Consumption Using Micro Data written by Carlos Caceres 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 2019-05-24 with Business & Economics categories.
This paper analyzes the existence of “wealth effects” derived from net equity (in the form of housing, financial assets, and total net worth) on consumption. The study uses longitudinal household-level data?from the Panel Study of Income Dynamics (PSID) ?covering about 7,000-9,000 households in the U.S., with the estimations carried over the period 1999-2017. Overall, wealth effects are found to be relatively large and significant for housing wealth, but less so for other types of wealth, including stocks. Furthermore, the analysis shows how these estimated marginal propensities to consume (MPC) from wealth are closely linked to household characteristics, including income and demographic factors. Finally, underlying structural changes in household characteristics point to potentially lower aggregate MPCs from wealth going forward.
The Housing Wealth Effect
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Author : Charles W. Calomiris
language : en
Publisher:
Release Date : 2012
The Housing Wealth Effect written by Charles W. Calomiris and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Economics categories.
"Current estimates of housing wealth effects vary widely. We consider the role of omitted variables suggested by economic theory that have been absent in a number of prior studies. Our estimates take into account age composition and wealth distribution (using poverty rates as a proxy), as well as wealth shares (how much of total wealth is comprised of housing vs. stock wealth). We exploit cross-state variation in housing, stock wealth and other variables in a newly assembled panel data set and find that the impact of housing on consumer spending depends crucially on age composition, poverty rates, and the housing wealth share. In particular, young people who are more likely to be credit-constrained, and older homeowners, likely to be "trading down" on their housing stock, experience the largest housing wealth effects, as suggested by theory. Also, as suggested by theory, housing wealth effects are higher in state-years with higher housing wealth shares, and in state-years with higher poverty rates (likely reflecting the greater importance of credit constraints for those observations). Taking these various factors into account implies huge variation over time and across states in the size of housing wealth effects"--National Bureau of Economic Research web site
Personal Wealth From A Global Perspective
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Author : James B. Davies
language : en
Publisher: Oxford University Press, USA
Release Date : 2008-11-13
Personal Wealth From A Global Perspective written by James B. Davies and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-11-13 with Business & Economics categories.
This book provides the first study of personal wealth from a global viewpoint. Previous international studies of wealth have focused on the rich countries. Here, the transition countries, emerging economies, and the developing world are examined too. The book looks at wealth inequality and asset composition around the world, showing how these are affected by history, institutions, gender, and incomes. There is a dramatic contrast between rich countries where financial assets are so important and poor countries where farm assets and land still dominate. The book shows that wealth inequality within countries is far higher than that of income, and has been rising recently, most notably in Russia, China, and other transition countries. Concentration among the rich and super-rich has also increased. Worldwide, the top 2% have about 50% of personal wealth, and the top 10% have 85%. In contrast, the bottom half has just 1%. Poor countries are even poorer in wealth than in income terms. But these are just the countries where life is most insecure and personal assets are most needed. The book concludes that steps must be taken to break down barriers and help the poor and middle class in low income countries build up their personal assets to overcome their wealth disadvantage.
Wealth S And Subjective Well Being
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Author : Gaël Brulé
language : en
Publisher: Springer
Release Date : 2019-06-24
Wealth S And Subjective Well Being written by Gaël Brulé and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-24 with Social Science categories.
This volume examines the impact of wealth on quality of life and subjective well-being (SWB). As wealth is related to economic, environmental and social features of societies, this volume serves as an important resource in understanding economic and SWB. It further discusses a variety of experiences and consequences of inequalities of wealth. Through the availability of wealth data in recent international surveys, this volume explores the multiple relations between wealth and SWB. Structured around four main pillars the book presents analysis of the topic at various levels such as theoretical and conceptual, methodological and empirically, ending with a section on distribution and policies.
The Distribution Of Wealth Growing Inequality
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Author : Michael Schneider
language : en
Publisher: Edward Elgar Publishing
Release Date : 2016-11-25
The Distribution Of Wealth Growing Inequality written by Michael Schneider and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-25 with categories.
Does Inequality Matter For The Consumption Wealth Channel Empirical Evidence
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Author : Luc Arrondel
language : en
Publisher:
Release Date : 2017
Does Inequality Matter For The Consumption Wealth Channel Empirical Evidence written by Luc Arrondel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
This paper studies the heterogeneity of the marginal propensity to consume out of wealth based on French household surveys. This heterogeneity is driven by differences in both wealth composition and wealth levels. We find a decreasing marginal propensity to consume out of wealth across the wealth distribution for all net wealth components. The marginal propensity to consume out of financial assets tends to be higher compared with the effect of housing assets, except at the top of the wealth distribution. The marginal propensity to consume out of housing wealth increases with debt pressure and depends on debt composition. Based on a simulation exercise, we find a limited effect of wealth shocks on consumption inequality. An increase in stock prices tends however to slightly increase consumption inequality, especially at the top of the distribution.
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.
Statistical Matching
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Author : Marcello D'Orazio
language : en
Publisher: John Wiley & Sons
Release Date : 2006-03-30
Statistical Matching written by Marcello D'Orazio and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-03-30 with Mathematics categories.
There is more statistical data produced in today’s modern society than ever before. This data is analysed and cross-referenced for innumerable reasons. However, many data sets have no shared element and are harder to combine and therefore obtain any meaningful inference from. Statistical matching allows just that; it is the art of combining information from different sources (particularly sample surveys) that contain no common unit. In response to modern influxes of data, it is an area of rapidly growing interest and complexity. Statistical Matching: Theory and Practice introduces the basics of statistical matching, before going on to offer a detailed, up-to-date overview of the methods used and an examination of their practical applications. Presents a unified framework for both theoretical and practical aspects of statistical matching. Provides a detailed description covering all the steps needed to perform statistical matching. Contains a critical overview of the available statistical matching methods. Discusses all the major issues in detail, such as the Conditional Independence Assumption and the assessment of uncertainty. Includes numerous examples and applications, enabling the reader to apply the methods in their own work. Features an appendix detailing algorithms written in the R language. Statistical Matching: Theory and Practice presents a comprehensive exploration of an increasingly important area. Ideal for researchers in national statistics institutes and applied statisticians, it will also prove to be an invaluable text for scientists and researchers from all disciplines engaged in the multivariate analysis of data collected from different sources.
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.