RT info:eu-repo/semantics/article
T1 Wealth inequality, intergenerational transfers, and family background
A1 Marrero Díaz, Gustavo Alberto
A1 Palomino, Juan C.
A1 Nolan, Brian
A1 Rodríguez, Juan G.
K1 Wealth inequality
K1 Intergenerational transfers
K1 Family background
K1 OECD countries
AB We estimate the contribution of intergenerational transfers (inheritances and gifts) and family background to wealth inequality in four OECD countries: France, Spain, Great Britain, and the USA. We compare the observed wealth distribution with a nonparametric counterfactual distribution where all differences in wealth associated withintergenerational transfers and family background are removed. Despite the diversity of the countries analysed, we find similar patterns. The combined contribution of intergenerational transfers and family background to wealth inequality is sizeable in the four countries, ranging from 36% in Great Britain to 49% in the USA. When interactions between the two factors are accounted for, and the Shapley value decomposition is used to fully disentangle the contribution of each factor based on its marginal contribution, intergenerational transfers account for between 26% in Great Britain and 36% of wealth inequality in France, with family background ranging from 9% in France to 17% in the USA.
PB Oxford University Press
SN 0030-7653
YR 2021
FD 2021
LK http://riull.ull.es/xmlui/handle/915/34947
UL http://riull.ull.es/xmlui/handle/915/34947
LA en
NO CEDESOG
DS Repositorio institucional de la Universidad de La Laguna
RD 21-nov-2024