Modeling the Joint Distribution of Income and Wealth
Number of Authors: 3
2015 (English)In: Measurement of Poverty, Deprivation, and Economic Mobility / [ed] Thesia I. Garner, Kathleen S. Short, Bingley: Emerald Group Publishing Limited, 2015, 301-329 p.Chapter in book (Refereed)
This paper considers a parametric model for the joint distribution of income and wealth. The model is used to analyze income and wealth inequality in five OECD countries using comparable household-level survey data. We focus on the dependence parameter between the two variables and study whether accounting for wealth and income jointly reveals a different pattern of social inequality than the traditional income only approach. We find that cross-country variations in the dependence parameter effectively account only for a small fraction of cross-country differences in a bivariate measure of inequality. The index appears primarily driven by differences in inequality in the wealth distribution.
Place, publisher, year, edition, pages
Bingley: Emerald Group Publishing Limited, 2015. 301-329 p.
, Research on Economic Inequality, ISSN 1049-2585 ; 23
Income, wealth, inequality, copula, multivariate Gini
Economics and Business Sociology
IdentifiersURN: urn:nbn:se:su:diva-122521DOI: 10.1108/S1049-258520150000023010ISI: 000360524700011ISBN: 978-1-78560-387-7ISBN: 978-1-78560-386-0OAI: oai:DiVA.org:su-122521DiVA: diva2:866804