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Review of Income and Wealth最新文献

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The Wealth of Wealthholders. 富人的财富。
IF 1.8 3区 经济学
Review of Income and Wealth Pub Date : 2026-05-01 Epub Date: 2026-03-20 DOI: 10.1111/roiw.70062
John Ameriks, Andrew Caplin, Minjoon Lee, Matthew D Shapiro, Christopher Tonetti
{"title":"The Wealth of Wealthholders.","authors":"John Ameriks, Andrew Caplin, Minjoon Lee, Matthew D Shapiro, Christopher Tonetti","doi":"10.1111/roiw.70062","DOIUrl":"10.1111/roiw.70062","url":null,"abstract":"<p><p>Wealth, though crucial for modeling economic behavior and understanding well-being, is difficult to measure in surveys. This paper introduces a new, comprehensive account-by-account approach for eliciting asset holding. This approach is implemented in the Vanguard Research Initiative, a panel of wealthholders designed to yield high-quality measurements for a large sample of older Americans with significant financial assets. Because survey responses are linked to administrative account balances, this paper can show that the approach yields precise, unbiased estimates. Having accurate and dense data on the wealth of wealthholders provides sharper inferences on wealth management behavior as well as on relationships between wealth and economic behavior than is possible in leading datasets.</p>","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"72 2","pages":""},"PeriodicalIF":1.8,"publicationDate":"2026-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC13003560/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147500387","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Rising Income Inequality and the Impact of r - g in the United States. 美国日益加剧的收入不平等和税收的影响。
IF 1.8 3区 经济学
Review of Income and Wealth Pub Date : 2025-02-01 Epub Date: 2025-02-18 DOI: 10.1111/roiw.70000
Antonio Abatemarco, Elena Lagomarsino, Alessandro Spiganti
{"title":"<ArticleTitle xmlns:ns0=\"http://www.w3.org/1998/Math/MathML\">Rising Income Inequality and the Impact of <ns0:math><ns0:mi>r</ns0:mi> <ns0:mo>-</ns0:mo> <ns0:mi>g</ns0:mi></ns0:math> in the United States.","authors":"Antonio Abatemarco, Elena Lagomarsino, Alessandro Spiganti","doi":"10.1111/roiw.70000","DOIUrl":"10.1111/roiw.70000","url":null,"abstract":"<p><p>This paper proposes a novel non-parametric strategy to test 'Piketty's third law,' postulating that a positive gap between the rate of return on capital <math><mo>(</mo> <mi>r</mi> <mo>)</mo></math> and the economy's growth rate <math><mo>(</mo> <mi>g</mi> <mo>)</mo></math> is associated with increased income inequality. The strategy is based on a decomposition of inequality changes over time that allows investigating the existence of a distributive effect of the <math><mi>r</mi> <mo>-</mo> <mi>g</mi></math> gap and its relative importance with respect to other drivers of income inequality changes over time. Applying this strategy to data from the Panel Study of Income Dynamics on the last 50 years, we find support for the existence of Piketty's law in the evolution of income inequality in the United States. Whereas factors other than Piketty's income dynamics predominantly drive overall inequality, the <math><mi>r</mi> <mo>-</mo> <mi>g</mi></math> gap accounts for approximately 10% of the trend in income inequality in the medium- and long-term.</p>","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"71 1","pages":""},"PeriodicalIF":1.8,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC12735359/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145835004","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Effect of the Covid‐19 Pandemic on Inequality Covid-19 大流行病对不平等的影响
IF 2 3区 经济学
Review of Income and Wealth Pub Date : 2024-09-12 DOI: 10.1111/roiw.12707
Peter B. Meyer, Joe Piacentini, Harley Frazis, Michael Schultz, Leo Sveikauskas
{"title":"The Effect of the Covid‐19 Pandemic on Inequality","authors":"Peter B. Meyer, Joe Piacentini, Harley Frazis, Michael Schultz, Leo Sveikauskas","doi":"10.1111/roiw.12707","DOIUrl":"https://doi.org/10.1111/roiw.12707","url":null,"abstract":"This paper reviews the economic literature on how the COVID‐19 pandemic and responses to it affected income inequality throughout the world. Inequality had been rising long before the pandemic. The COVID shock affected employment, income, and education differently for various occupations and population groups. The pandemic initially disrupted lower‐paid, service‐sector employment, particularly affecting women and lower‐income groups. Government policies in response to the pandemic mitigated income losses. School and day‐care closures disrupted the work of parents, especially mothers. These effects have generally ended. Lasting changes in work patterns, consumer demand, and production will tend to benefit higher‐income groups and to erode opportunities for some less advantaged workers, increasing income inequality over the long run. Opportunities for remote work, especially for highly paid workers, have increased permanently. School disruptions have particularly affected lower‐income students, which will tend to increase inequality among future workers.","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"77 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2024-09-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142212977","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Using machine learning to unveil the predictors of intergenerational mobility 利用机器学习揭示代际流动的预测因素
IF 2 3区 经济学
Review of Income and Wealth Pub Date : 2024-08-30 DOI: 10.1111/roiw.12710
Luís Clemente‐Casinhas, Alexandra Ferreira‐Lopes, Luís Filipe Martins
{"title":"Using machine learning to unveil the predictors of intergenerational mobility","authors":"Luís Clemente‐Casinhas, Alexandra Ferreira‐Lopes, Luís Filipe Martins","doi":"10.1111/roiw.12710","DOIUrl":"https://doi.org/10.1111/roiw.12710","url":null,"abstract":"We assess the predictors of intergenerational mobility in income and education for a sample of 137 countries, between 1960 and 2018, using the World Bank's Global Database on Intergenerational Mobility (GDIM). The Rigorous LASSO and the Random Forest and Gradient Boosting algorithms are considered, to avoid the consequences of an <jats:italic>ad‐hoc</jats:italic> model selection in our high dimensionality context. We obtain variable importance plots and analyze the relationships between mobility and its predictors through Shapley values. Results show that intergenerational income mobility is expected to be positively predicted by the parental average education, the share of married individuals and negatively predicted by the share of children that have completed less than primary education, the growth rate of population density, and inequality. Mobility in education is expected to have a positive relationship with the adult literacy, government expenditures on primary education, and the stock of migrants. The unemployment and poverty rates matter for income mobility, although the direction of their relationship is not clear. The same occurs for education mobility and the growth rate of real GDP <jats:italic>per capita</jats:italic>, the degree of urbanization, the share of female population, and income mobility. Income mobility is found to be greater for the 1960s cohort. Countries belonging to the Latin America and Caribbean region present lower mobility in income and education. We find a positive relationship between predicted income mobility and observed mobility in education.","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"7 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2024-08-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142212978","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Monitoring Poverty in a Data‐Deprived Environment: The Case of Lebanon 在数据匮乏的环境中监测贫困状况：黎巴嫩案例
IF 2 3区 经济学
Review of Income and Wealth Pub Date : 2024-07-17 DOI: 10.1111/roiw.12708
Paul Makdissi, Walid Marrouch, Myra Yazbeck
{"title":"Monitoring Poverty in a Data‐Deprived Environment: The Case of Lebanon","authors":"Paul Makdissi, Walid Marrouch, Myra Yazbeck","doi":"10.1111/roiw.12708","DOIUrl":"https://doi.org/10.1111/roiw.12708","url":null,"abstract":"This paper addresses the lack of data and limited statistical capacity in the Middle East and North Africa, particularly amid Lebanon's economic collapse. We apply a novel data augmentation technique to analyze poverty when traditional income data are limited or unavailable. By adapting existing methods, we recover continuous income distributions from interval data and derive dominance conditions for such data, accounting for non‐response. The proposed approach enables robustness checks by estimating the bounds of admissible cumulative distribution functions. Our empirical analysis uses Lebanese data to perform first‐order dominance tests on these bounds, highlighting the importance of the approach. We demonstrate how alternative data sources can be leveraged for essential poverty analysis.","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"202 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2024-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141744533","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Assessing Income Convergence with a Long‐run Forecasting Approach: Some New Results 用长期预测方法评估收入趋同：一些新结果
IF 2 3区 经济学
Review of Income and Wealth Pub Date : 2024-07-11 DOI: 10.1111/roiw.12702
Artur Silva Lopes
{"title":"Assessing Income Convergence with a Long‐run Forecasting Approach: Some New Results","authors":"Artur Silva Lopes","doi":"10.1111/roiw.12702","DOIUrl":"https://doi.org/10.1111/roiw.12702","url":null,"abstract":"Relying on low frequency econometric methods, a new simple procedure to assess international income convergence is introduced. It implements the long‐run forecasting definition and discards short‐ and medium‐term information contents of the data as these may produce misleading evidence. Robustness to non‐stationarities is achieved using first differences of (logged) per capita incomes. Application to a selected sample of 90 different countries provides mixed but generally more positive evidence than most previous studies. Nevertheless, it casts many doubts on the inevitability of income convergence, at least in practically relevant time frames and as a worldwide phenomenon.","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"13 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2024-07-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141611839","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The increase in earnings inequality in Italy: The role and persistence of atypical contracts 意大利收入不平等的加剧：非典型合同的作用和持续性
IF 2 3区 经济学
Review of Income and Wealth Pub Date : 2024-07-09 DOI: 10.1111/roiw.12709
Domenico Depalo, Salvatore Lattanzio
{"title":"The increase in earnings inequality in Italy: The role and persistence of atypical contracts","authors":"Domenico Depalo, Salvatore Lattanzio","doi":"10.1111/roiw.12709","DOIUrl":"https://doi.org/10.1111/roiw.12709","url":null,"abstract":"This paper investigates the factors that shape earnings inequality, using administrative matched employer‐employee data from the Italian Social Security Institute (INPS), between 1990 and 2021. It reveals that inequality in annual earnings rose steadily over time according to various measures, such as the Gini index, the interquartile ranges, and the variance. When exploring the mechanisms behind such an increase, it shows that the rise in inequality is driven by the quantity of work, which varied heterogeneously across workers, as atypical contracts (e.g., part‐time and fixed‐term) became widespread in the economy. We compare these measures based on the annual compensation of workers with those based on full‐time equivalent weekly wages, which display a much less dispersed evolution over time, except during the double‐dip recession in 2008–2012. Finally, we document a large persistence, increasing over time, in disadvantaged positions both in the short‐ and in the long‐run.","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"46 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141575170","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
INTANGIBLES: HOW FAR WE HAVE COME AND THE ROAD AHEAD 无形资产：我们走过的路和未来的路
IF 2 3区 经济学
Review of Income and Wealth Pub Date : 2024-07-08 DOI: 10.1111/roiw.12706
Daniel E. Sichel
{"title":"INTANGIBLES: HOW FAR WE HAVE COME AND THE ROAD AHEAD","authors":"Daniel E. Sichel","doi":"10.1111/roiw.12706","DOIUrl":"https://doi.org/10.1111/roiw.12706","url":null,"abstract":"Investment in intangible assets as a share of business sector GDP has increased rapidly across advanced market economies during the past several decades, and this explosion in intangible capital has been matched by a huge increase in related research on how rising intangible intensity has affected economic activity, the structure of the economy, and financial markets. These developments provide the backdrop for this survey essay—a summary of a keynote address delivered at the ESCoE‐IARIW conference on intangible assets held in London in 2021—written from the perspective of someone involved in intangibles research since the early 2000s. The essay selectively reviews work by researchers inside and outside National Statistical Offices (mostly on the measurement side) to highlight how far the measurement community has come since the early 2000s and to offer a perspective on key measurement research questions for the future to highlight the road ahead.","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"2 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2024-07-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141575177","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Democratic Aggregation: Issues and Implications for Consumer Price Indexes 民主汇总：消费者价格指数的问题和影响
IF 2 3区 经济学
Review of Income and Wealth Pub Date : 2024-07-03 DOI: 10.1111/roiw.12703
Robert S. Martin
{"title":"Democratic Aggregation: Issues and Implications for Consumer Price Indexes","authors":"Robert S. Martin","doi":"10.1111/roiw.12703","DOIUrl":"https://doi.org/10.1111/roiw.12703","url":null,"abstract":"This paper constructs and compares consumer price indexes (CPI) using weighting methods that differentially incorporate inflation disparities across households. Plutocratic CPIs, commonly used by statistical agencies, weight households based on their total expenditure, while democratic CPIs equally weight households to better represent average consumer experiences. I estimate democratic versions of the Bureau of Labor Statistics' CPI and Chained CPI (C‐CPI) for all urban consumers using the Lowe and Törnqvist formulas, respectively. From December 2002 to June 2021, the democratic CPI‐U exceeds its plutocratic counterpart by approximately 0.08 percentage points per year, on average, while the democratic C‐CPI‐U surpasses the plutocratic by 0.19 percentage points per year. The results indicate a negative correlation between inflation and household expenditure level over the study period. I also find weight frequency to be more important than index formula for explaining why larger differences occur for the C‐CPI‐U.","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"1 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2024-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141551080","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Heterogenous Rates of Return on Homes: Do The Rich Do Better? 不同的房屋回报率：富人的表现更好吗？
IF 2 3区 经济学
Review of Income and Wealth Pub Date : 2024-07-02 DOI: 10.1111/roiw.12704
Edward N. Wolff
{"title":"Heterogenous Rates of Return on Homes: Do The Rich Do Better?","authors":"Edward N. Wolff","doi":"10.1111/roiw.12704","DOIUrl":"https://doi.org/10.1111/roiw.12704","url":null,"abstract":"Recent work on wealth inequality using the capitalization method wherein aggregate wealth totals are distributed proportionately to property income like dividends motivates concern about whether rates of return on assets vary across the income or wealth distribution. Here I use accrued capital gains and imputed rent on homes estimated from the Survey of Consumer Finances to address this issue. Both capital gains and imputed rent form part of total income. I find strong econometric evidence that returns vary directly with wealth level and are considerably higher for very wealthy compared to poorer households. However, I do not find evidence that higher income households receive higher returns once controlling for overall market house price trends. Returns are also strongly related to overall market house price movements, suggesting that timing the market is a key determinant. However, paradoxically, adding housing returns to baseline household wealth reduces overall wealth inequality.","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":"137 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2024-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141522456","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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