Reference : Income and Wealth Volatility: Evidence from Italy and the U.S. in the Past Two Decades
Scientific journals : Article
Business & economic sciences : Social economics
Income and Wealth Volatility: Evidence from Italy and the U.S. in the Past Two Decades
Menta, Giorgia mailto [University of Luxembourg > Faculty of Language and Literature, Humanities, Arts and Education (FLSHASE) > >]
Wolff, Edward mailto [New York University]
d'ambrosio, Conchita mailto [University of Luxembourg > Faculty of Humanities, Education and Social Sciences (FHSE) > Department of Behavioural and Cognitive Sciences (DBCS) >]
In press
Journal of Economic Inequality
Kluwer Academic Publishers
[en] Income volatility ; Wealth volatility ; PSID ; SHIW
[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.
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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