Income and wealth volatility: evidence from Italy and the U.S. in the past two decades
| Autor: | Edward N. Wolff, Giorgia Menta, Conchita D'Ambrosio |
|---|---|
| Rok vydání: | 2021 |
| Předmět: |
Organizational Behavior and Human Resource Management
Sociology and Political Science Inequality media_common.quotation_subject Income volatility 05 social sciences 050109 social psychology Real estate Monetary economics PSID Economie sociale [B15] [Sciences économiques & de gestion] SHIW Wealth volatility 0502 economics and business 0501 psychology and cognitive sciences 050207 economics Comparative perspective Volatility (finance) Market value Social economics [B15] [Business & economic sciences] General Economics Econometrics and Finance Public finance media_common |
| Zdroj: | The Journal of Economic Inequality. 19:293-313 |
| ISSN: | 1573-8701 1569-1721 |
| Popis: | Income volatility and wealth volatility are central objects of investigation for the literature on income and wealth inequality and dynamics. Here we analyse the two concepts in a comparative perspective for the same individuals in Italy and the U.S. over the last two decades. We find that in both countries wealth volatility reaches significantly higher values than income volatility, the effect being mostly driven by changes in the market value of real estate assets. We also show that there is more volatility in both dimensions in the U.S. and that the overall trend in both countries is increasing over time. We conclude by exploring volatility in consumption. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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