[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.
Disciplines :
Economie sociale
Auteur, co-auteur :
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)
Co-auteurs externes :
yes
Langue du document :
Anglais
Titre :
Income and Wealth Volatility: Evidence from Italy and the U.S. in the Past Two Decades
Date de publication/diffusion :
juin 2021
Titre du périodique :
Journal of Economic Inequality
ISSN :
1569-1721
eISSN :
1573-8701
Maison d'édition :
Kluwer Academic Publishers, Pays-Bas
Volume/Tome :
19
Fascicule/Saison :
2
Pagination :
293-313
Peer reviewed :
Peer reviewed vérifié par ORBi
Projet FnR :
FNR12677653 - Financial Strain And Economic Instability: Effects On Wellbeing And Behaviour Over The Life Course, 2018 (01/09/2019-31/08/2022) - Conchita D'ambrosio
