English, Article, Journal or magazine article edition: Older or Wealthier? The Impact of Age Adjustments on the Wealth Inequality Ranking of Countries Ingvild Almås and Magne Mogstad

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Bookmark: http://trove.nla.gov.au/version/41651
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Older or Wealthier? The Impact of Age Adjustments on the Wealth Inequality Ranking of Countries
Author
  • Ingvild Almås and Magne Mogstad
Physical Description
  • preprint
Notes
  • Differences in individual wealth holdings are widely viewed as a driving force of economic inequality. However, as this finding relies on cross-section data, we may confuse older with wealthier. We propose a new method to adjust for age effects in cross-sections, which eliminates transitory wealth inequality due to age, yet preserves inequality arising from other factors. This new method is superior to existing methods, like the much used Paglin-Gini, which is shown to have several problems. A new cross-country comparable database reveals that the choice of method is empirically important: Existing methods yield erroneous wealth inequality rankings of countries.
  • Wealth inequality; Life cycle; Age adjustments; Gini coefficient.
  • RePEc:ssb:dispap:583
Language
  • English
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