Accounting for cross-country differences in wealth inequality

Cowell, Frank ORCID: 0000-0002-3778-2152, Karagiannaki, Eleni and McKnight, Abigail (2018) Accounting for cross-country differences in wealth inequality. Review of Income and Wealth, 64 (2). 332 - 356. ISSN 0034-6586

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Abstract

There is considerable cross-country variation in levels of household wealth and in wealth inequality. This paper assesses the extent to which these differences can be accounted for by differences in the distributions of households’ demographic and economic characteristics. A counterfactual decomposition analysis of micro data from five countries (Italy, UK, US, Sweden and Finland) is used to identify the effects of characteristics on component wealth holdings, their value and their distribution. The findings of the paper suggest that the biggest share of cross-country differences is not attributable to the distribution of household demographic and economic characteristics but rather reflect strong unexplained country effects.

Item Type:	Article
Official URL:	https://onlinelibrary.wiley.com/journal/14754991
Additional Information:	© 2016 International Association for Research in Income and Wealth
Divisions:	Centre for Analysis of Social Exclusion
Subjects:	H Social Sciences > HN Social history and conditions. Social problems. Social reform
JEL classification:	C - Mathematical and Quantitative Methods > C8 - Data Collection and Data Estimation Methodology; Computer Programs > C81 - Methodology for Collecting, Estimating, and Organizing Microeconomic Data D - Microeconomics > D3 - Distribution > D31 - Personal Income, Wealth, and Their Distributions D - Microeconomics > D6 - Welfare Economics > D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement I - Health, Education, and Welfare > I3 - Welfare and Poverty > I31 - General Welfare; Basic Needs; Living Standards; Quality of Life; Happiness
Date Deposited:	21 Oct 2016 10:21
Last Modified:	05 Dec 2024 08:24
URI:	http://eprints.lse.ac.uk/id/eprint/68101

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