Income and Wealth Volatility:  Evidence from Italy and the U.S. in the Past Two Decades

Menta, Giorgia; Wolff, Edward; d'ambrosio, Conchita

Reference : Income and Wealth Volatility: Evidence from Italy and the U.S. in the Past Two Decades


	Document type :	Scientific journals : Article
	Discipline(s) :	Business & economic sciences : Social economics
	To cite this reference:	http://hdl.handle.net/10993/44468

Title :	Income and Wealth Volatility: Evidence from Italy and the U.S. in the Past Two Decades
Language :	English
Author, co-author :	Menta, Giorgia [University of Luxembourg > Faculty of Humanities, Education and Social Sciences (FHSE) > Department of Behavioural and Cognitive Sciences (DBCS) >]
	Wolff, Edward [New York University]
	d'ambrosio, Conchita [University of Luxembourg > Faculty of Humanities, Education and Social Sciences (FHSE) > Department of Behavioural and Cognitive Sciences (DBCS) >]
Publication date :	Jun-2021
Journal title :	Journal of Economic Inequality
Publisher :	Kluwer Academic Publishers
Volume :	19
Issue/season :	2
Pages :	293-313
Peer reviewed :	Yes
Audience :	International
ISSN :	1569-1721
Country :	Netherlands
Keywords :	[en] Income volatility ; Wealth volatility ; PSID ; SHIW
Abstract :	[en] 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.
Permalink :	http://hdl.handle.net/10993/44468
FnR project :	FnR ; FNR12677653 > Conchita D'Ambrosio > FESI > Financial Strain and Economic Instability: Effects on Wellbeing and Behaviour over the Life Course > 01/09/2019 > 31/08/2022 > 2018

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