Humer, Stefan and Moser, Mathias and Schnetzer, Matthias (2016) Bequests and the Accumulation of Wealth in the Eurozone. INEQ Working Paper Series, 1. WU Vienna University of Economics and Business, Vienna.
![]()
|
PDF
ineq_bequests.pdf Download (279kB) |
Abstract
This paper empirically compares the contribution of the two major wealth accumulation factors - earned income and inheritances - to the net wealth position of households in the Eurozone. The elasticities of both wealth sources differ considerably across countries and are overly non-linear. Depending on the position in the wealth distribution, an increase of one percentile in the income distribution corresponds to 0.1-0.6 percentiles in the net wealth distribution. We find substantially stronger effects for inheritances vis-á-vis income. In Greece, Portugal, and Austria, households have to climb around three percentiles in the income distribution to compensate a one percentile increase in the inheritance distribution. The findings clearly suggest that bequests play a stronger role in wealth accumulation than earned income.
Item Type: | Paper |
---|---|
Keywords: | wealth distribution / household structure |
Classification Codes: | JEL C21, D31 |
Divisions: | Forschungsinstitute > Verteilungsfragen |
Depositing User: | ePub Administrator |
Date Deposited: | 10 Feb 2016 08:55 |
Last Modified: | 22 Oct 2019 00:41 |
FIDES Link: | https://bach.wu.ac.at/d/research/results/76255/ |
URI: | https://epub.wu.ac.at/id/eprint/4841 |
Actions
![]() |
View Item |
Downloads
Downloads per month over past year