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Author:Laitner, J.
Title:Secular changes in wealth inequality and inheritance
Journal:Economic Journal
2001 : OCT, VOL. 111:474, p. 691-721
Index terms:DISTRIBUTION OF WEALTH
EQUALITY
LIFE CYCLES
UNITED KINGDOM
USA
Language:eng
Abstract:Data suggests 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.
SCIMA record nr: 226226
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