全球智库信息集成服务系统(G2TT): Where Does Wealth Come From?

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w28239
来源ID	Working Paper 28239
	Where Does Wealth Come From?
	Sandra E. Black; Paul J. Devereux; Fanny Landaud; Kjell G. Salvanes
发表日期	2020-12-21
出版年	2020
语种	英语
摘要	Much attention has been given to rising wealth inequality in recent decades. However, understanding inequality requires an understanding of how wealth relates to the potential wealth an individual could accumulate and where this wealth comes from. Using administrative data from Norway, we create measures of potential wealth that abstract from differential consumption and spending behavior. We then examine how these measures relate to observed net wealth of individuals at a point in time and the role played by different sources of wealth in the distribution of potential wealth. We find that net wealth is a reasonable proxy for potential wealth, particularly in the tails of the distribution. Importantly, people in different parts of the potential wealth (or actual net wealth) distribution get their wealth from very different sources. Labor income is the most important determinant of wealth, except among the top 1%, where capital income and capital gains on financial assets become important. Inheritances and gifts are not an important determinant of wealth, even at the top of the wealth distribution. Finally, although inheritances are not important, parental wealth does influence child’s wealth; children of wealthy parents accumulate wealth from very different sources than children of less wealthy parents.
主题	Financial Economics ; Labor Economics ; Demography and Aging
URL	https://www.nber.org/papers/w28239
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/585913
推荐引用方式 GB/T 7714	Sandra E. Black,Paul J. Devereux,Fanny Landaud,et al. Where Does Wealth Come From?. 2020.

条目包含的文件
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w28239.pdf（1106KB）	智库出版物		限制开放	CC BY-NC-SA	浏览