Wealth, Top Incomes, and Inequality

What Is Missing, Why It Matters

Datos Bibliográficos

ID19986396
AutoresFrank Cowell (0000-0002-3778-2152, London School of Economics and Political Science), Cameron Hepburn (0000-0003-0467-7441), Brian Nolan (0000-0002-5992-4182, London School of Economics and Political Science), Kirk Hamilton, Javier Olivera (0000-0002-8769-7845, London School of Economics and Political Science), Philippe Van Kerm (0000-0002-0639-9097, London School of Economics and Political Science)
Año2017
Páginas528
Fecha de publicación2017-10-19
Open AccessNo
TipoBOOK
RevistaNational Wealth (SOURCE_BOOK)
EditorialOxford University Press (PUBLISHER • GB)
DOI10.1093/oso/9780198803720.003.0008
OpenAlexW2750069048
Open LibraryOL28638085M
ISBN9780198803720
IdiomaEN
Citas recibidas10
Referencias citadas10

Although it is heartening to see wealth inequality being taken seriously, key concepts are often muddled, including the distinction between income and wealth; what is included in ‘wealth’; and facts about wealth distributions. This chapter highlights issues that arise in making ideas and facts about wealth inequality precise, and employs newly available data to take a fresh look at wealth and wealth inequality in a comparative perspective. The composition of wealth is similar across countries, with housing wealth being the key asset. Wealth is considerably more unequally distributed than income, and it is distinctively so in the US. Extending definitions to include pension wealth, however, reduces inequality substantially. Analysis also sheds light on life-cycle patterns and the role of inheritance. Discussion of the joint distributions of income and wealth suggests that interactions between increasing top-income shares and the concentration of wealth and income from wealth towards the top are critical

Asset (computer security) · Economic inequality · Economics · Income inequality metrics · Inequality · Inheritance (genetic algorithm) · Labour economics · Macroeconomics · National wealth · Pension · Redistribution of income and wealth · Unemployment · Wealth distribution · Wealth elasticity of demand · Economic theories and models · Economic Theory and Policy · Finance · Income, Poverty, and Inequality · Business & Economics · Econometric models · Kapitalakkumulation · Reichtum · Vermögensverteilung · wealth · Wohlstand