How is Household Wealth Distributed? Evidence from the Luxembourg Wealth Study
Abstract:There are significant cross‐country differences in both levels and distribution of household wealth compared that of income, which partly depend on the definition of wealth and on the measures used to summarise its distribution. Many of those who are classified as income poor do have some assets, although the "median" poor has negligible financial assets in all countries covered. Disposable income and net worth are positively correlated across individuals, and this association holds even after controlling for personal characteristics such as age and education.
Document Type: Review Article
Publication date: October 1, 2008