How inheritances shape wealth distributions: An international comparison
نویسندگان
چکیده
منابع مشابه
Strategy-based wealth distributions
We explore a simple game-theoretical betting model where players’ bets influence the outcome of a probabilistic game. We find that the dynamics and equilibrium results for these games are quite simple, but the transitory distribution of wealth is interesting. Most econophysics models of wealth distribution use random exchanges. In our model, in contrast, skill accounts for a majority of the wea...
متن کاملWealth Accumulation in the U.S.: Do Inheritances and Bequests Play a Significant Role?∗
This paper formulates an overlapping generations model with both life–cycle saving and altruistic bequests. For a given distribution of earning abilities, the model generates a stationary steady–state capital–to–labor ratio for the economy as a whole and a stationary distribution of net worth among households. We calibrate the model, using the 1995 Survey of Consumer Finances to fix the distrib...
متن کاملAn out-of-equilibrium model of the distributions of wealth
The distribution of wealth among the members of a society is herein assumed to result from two fundamental mechanisms, trade and investment. An empirical distribution of wealth shows an abrupt change between the low-medium range, that may be fitted by a non-monotonic function with an exponential-like tail such as a Gamma distribution, and the high wealth range, that is well fitted by a Pareto o...
متن کاملLand titles , credit markets and wealth distributions
Does the existence of formal title to land and real estate matter for the distribution of wealth? This paper reviews the empirical literature on the economic impact of land and real estate administration systems across countries. This paper argues that a functioning credit market for secured credit is necessary to realize the full benefits of legal title to private real estate. This paper also ...
متن کاملWealth distributions in asset exchange models
A model for the evolution of the wealth distribution in an economically interacting population is introduced, in which a specified amount of assets are exchanged between two individuals when they interact. The resulting wealth distributions are determined for a variety of exchange rules. For “random” exchange, either individual is equally likely to gain in a trade, while “greedy” exchange, the ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Economics Letters
سال: 2017
ISSN: 0165-1765
DOI: 10.1016/j.econlet.2017.08.007