We do not need to and should have choose amongst income, consumption, or wealth as the superior measure of well-being. All three individually jointly determine are first study inequality in conjoint dimensions for same households, using from 1989–2016 Surveys Consumer Finances (SCF). The paper focuses on two questions. What does look like? Has multiple increased by less, more, about any one dim...

Increasing wealth inequality is a significant global issue that demands attention. While the distribution of varies across countries based on their economic stages, there universal trend observed in function. Typically, regions with lower values exhibit an exponential distribution, while higher demonstrate power-law distribution. In this review, we introduce measures effectively capture and exa...

We show that the residuals of the trend relationship among asset wealth and human wealth predict housing returns. Using data for a set of industrialized countries, we assess the predictive ability of the wealth-to-income ratio for housing returns. In particular: (i) when housing asset are complements of financial assets, investors demand a higher housing risk premium if they are hit by a shock ...

Compared with nonpoor households, many poor households accumulate little wealth over their lifetimes. This rich-poor wealth gap may be due to different abilities to accumulate assets, possibly because the poor face a lifetime of lower incomes and higher income uncertainty. Alternatively, the wealth gap might be due to different responses to economic incentives to accumulate, such as transferpro...

At least since Keynes (1935), many economists have had the intuition that the marginal propensity to consume out of wealth declines as wealth increases. Nonetheless, standard perfect-certainty and certainty equivalent versions of intertemporal optimizing models of consumption imply a marginal propensity to consume that is unrelated to the level of household wealth. We show that adding income un...