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Income InequalityEconomic Disparities and the Middle Class in Affluent Countries$
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Janet C. Gornick and Markus Jantti

Print publication date: 2013

Print ISBN-13: 9780804778244

Published to Stanford Scholarship Online: January 2014

DOI: 10.11126/stanford/9780804778244.001.0001

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The Joint Distribution of Income and Wealth

The Joint Distribution of Income and Wealth

(p.312) Chapter Eleven The Joint Distribution of Income and Wealth
Income Inequality

Markus Jäntti

Eva Sierminska

Philippe Van Kerm

Stanford University Press

This chapter examines the joint distribution of wealth and income in Germany, Italy, Luxembourg, Sweden, and the United States. Both the level household net worth and its main components are examined at the top and middle of the distribution as well as by income group. The chapter next examines the unconditional joint distribution of disposable income and net worth, which is found to be roughly similar across the countries. Descriptive bivariate regressions, using household composition, as well as the age and education level of the reference persons are estimated to gauge the extent to which the covariation of wealth and income is driven by observable characteristics as opposed to unobserved covariation.

Keywords:   wealth, income, inequality, joint distribution, Luxembourg Wealth Study

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