Secular Changes in Wealth Inequality and Inheritance

Bibliographic Data

ID9708752
AuthorsJohn Laitner (0000-0002-2647-5958, University of Michigan, corresponding author)
Year2001
Volume111
Issue474
Pages691-721
Publication date2001-10-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueThe Economic Journal (JOURNAL)
Journal identifiersISSN: 0013-0133 • E-ISSN: 1468-0297
PublisherOxford University Press (OUP) (PUBLISHER)
DOI10.1111/1468-0297.00656
OpenAlexW3122244745
LanguageEN
Citations received9

Data suggest that the distribution of wealth among households in the USA and UK has become more equal over the last century, though, at least for the USA, the pattern may have reversed recently. This paper shows that a model in which all households save for life-cycle reasons and some for dynastic purposes as well offers a possible or partial explanation: the model predicts rising cross-sectional equality of wealth when longevity increases. There may also be implications about very recent changes: expansion of social security programmes and government deficits can lead toward more wealth inequality. Slower growth may do the same

Biology · Debt · Demographic economics · Development economics · Distribution (mathematics · Distribution of wealth · Economics · Government (linguistics · Inequality · Inheritance (genetic algorithm · Longevity · Macroeconomics · Market economy · National wealth · Social security · Wealth distribution · demographic modeling and climate adaptation · Financial Literacy, Pension, Retirement Analysis · Global Health Care Issues

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