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See detailInheritance, gifts and the accumulation of wealth for low-income households
Morelli, Salvatore; Nolan, Brian; Palomino, Juan C. et al

in Journal of European Social Policy (2021), 31(5), 533-548

Many low-income households in rich countries have very little wealth, but the role of intergenerational wealth transmission in underpinning this deficit is not known. This article seeks to fill that gap ... [more ▼]

Many low-income households in rich countries have very little wealth, but the role of intergenerational wealth transmission in underpinning this deficit is not known. This article seeks to fill that gap by investigating patterns of past wealth transfer receipt for low-income versus other households in seven rich countries and assessing the contribution that these transfers, or their absence, make to current wealth levels. We find that households on low incomes are relatively disadvantaged in terms of intergenerational transfers received in the past, both in terms of the likelihood of having received any and the amounts received by those who do benefit from such transfers. The role that this disadvantage plays in the linkage between current low-income and low wealth is assessed and evidence presented that it is significant. Simulation of a universal wealth transfer scheme or ‘capital endowment’ on reaching adulthood for two countries shows that such a policy could lead to a marked decline in the proportion of low-income adults with negative or no wealth. This and alternative or complementary policy responses to these wealth deficits merit the most serious attention. [less ▲]

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See detailPost-crisis developments in young adults’ housing wealth
Dewilde, Caroline; Flynn, Lindsay UL

in Journal of European Social Policy (2021), 31(5), 580-596

How has housing wealth inequality changed for young-adult households in the post-financial crisis period, and what is driving such change? We chart a path for subsequent studies by analysing the ... [more ▼]

How has housing wealth inequality changed for young-adult households in the post-financial crisis period, and what is driving such change? We chart a path for subsequent studies by analysing the previously unexamined post-crisis housing wealth profile of young adults via different angles and using multiple inequality measures. Using household micro-data for 11 European countries (Household Finance and Consumption Survey, 2010–2017) and the United States (Survey of Consumer Finances, 2010–2016), we find that the accumulation of housing assets for 22–44 year olds is unevenly concentrated among high-income homeowners, over and above what would be expected given the well-known decline in homeownership. We describe and assess several potential drivers for these wealth profile changes, finding that the current explanations offered in the literature do not adequately account for the unequal wealth profile of young people. We conclude that a mix of dynamics, including housing market volatility, housing market configurations leading to uneven capital gains and losses, and the increased social selectivity of homeownership intersect to shape the ways that young adults navigate the housing market in post-crisis times. [less ▲]

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See detailChildcare Markets and Maternal Employment: A Typology
Flynn, Lindsay UL

in Journal of European Social Policy (2017), 27(3), 260-275

How does the structure of a country’s childcare market influence maternal employment? Childcare markets vary across countries, leading mothers to rely on various forms of care depending on what is ... [more ▼]

How does the structure of a country’s childcare market influence maternal employment? Childcare markets vary across countries, leading mothers to rely on various forms of care depending on what is available to them in both the public (state-provided) and private (non-state) childcare markets. Maternal employment is higher in countries that combine comprehensive childcare policies with an available and affordable private care market. When aspects of either the public or private market are lacking, the employment of mothers, and especially mothers with young children, is lower. This article proposes a fourfold classification scheme based on the type of ‘penalty’ that women experience in the labour market as mothers. It then links each penalty to distinct policy structures of childcare markets and shows that the four penalties are visible at both the country and individual level. By articulating how public and private care markets work in concert to shape maternal employment, this article adds to a literature that to date has focused primarily on the role of public childcare in reconciling work and family. [less ▲]

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