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See detailIncome and Wealth Volatility: Evidence from Italy and the U.S. in the Past Two Decades
Menta, Giorgia UL; Wolff, Edward; d'ambrosio, Conchita UL

in Journal of Economic Inequality (2021), 19(2), 293-313

Income volatility and wealth volatility are central objects of investigation for the literature on income and wealth inequality and dynamics. Here we analyse the two concepts in a comparative perspective ... [more ▼]

Income volatility and wealth volatility are central objects of investigation for the literature on income and wealth inequality and dynamics. Here we analyse the two concepts in a comparative perspective for the same individuals in Italy and the U.S. over the last two decades. We find that in both countries wealth volatility reaches significantly higher values than income volatility, the effect being mostly driven by changes in the market value of real estate assets. We also show that there is more volatility in both dimensions in the U.S. and that the overall trend in both countries is increasing over time. We conclude by exploring volatility in consumption. [less ▲]

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See detailThe Distribution of Wealth in the United States from 1983 to 2004: Inequality and Polarization
D'Ambrosio, Conchita UL; Fiaschi, Davide; Wolff, Edward

in Gonzales, Jason (Ed.) Economics of Wealth in the 21st Century (2011)

Recent work has documented a rising degree of wealth inequality in the United States between 1983 and 2004. In this paper, we compare the increase in the spread of the distribution with another dimension ... [more ▼]

Recent work has documented a rising degree of wealth inequality in the United States between 1983 and 2004. In this paper, we compare the increase in the spread of the distribution with another dimension, polarization. Using alternative approaches proposed in the literature, we examine whether a similar pattern exists with regard to trends in wealth polarization over this period. Perhaps, our most notable finding is the huge increase in wealth polarization that occurred in the U.S. from 1983 to 2004, particularly from 1998 to 2004. In contrast, the Gini coefficient shows an increase in wealth inequality from 1983 to 1989 and little change thereafter. [less ▲]

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