English, Article, Journal or magazine article edition: Older or wealthier? The impact of age adjustments on the wealth inequality ranking of countries Ingvild Almås; Ingvild Almas; Magne Mogstady

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Bookmark: http://trove.nla.gov.au/version/45892
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
  • Ingvild Almas
  • Magne Mogstady
Physical Description
  • preprint
Notes
  • RePEc:inq:inqwps:ecineq2009-113
  • 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:diw:diwsop:diw_sp181
Language
  • English
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