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Wealth Distribution and Social Mobility in the US: A Quantitative Approach / Jess Benhabib, Alberto Bisin, Mi Luo.
- Format:
- Book
- Author/Creator:
- Benhabib, Jess.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w21721.
- NBER working paper series no. w21721
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Wealth Distribution and Social Mobility in the US
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2015.
- Summary:
- This paper attempts to quantitatively identify the factors that drive wealth dynamics in the U.S. and are consistent with its observed skewed cross-sectional distribution and social mobility. We concentrate on three critical factors: a skewed and persistent distribution of earnings, differential saving and bequest rates across wealth levels, and capital income risk. All of these factors are necessary for matching both distribution and mobility, with a distinct role in inducing wealth accumulation near the borrowing constraints, contributing to the thick top tail of wealth, and affecting upward and/or downward social mobility.
- Notes:
- Print version record
- November 2015.
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