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Intergenerational Wealth Mobility in France, 19th and 20th Century

Jérôme Bourdieu, Lionel Kesztenbaum (), Gilles Postel‐Vinay and Akiko Suwa‐Eisenmann
Authors registered in the RePEc Author Service: Gilles Postel-Vinay

Review of Income and Wealth, 2019, vol. 65, issue 1, 21-47

Abstract: This paper examines intergenerational wealth mobility between fathers and children in France between 1848 and 1960. Considering wealth mobility in the long run requires taking into account not only positional mobility (that is, how families move within a given distribution of wealth), but also structural mobility induced by changes in the distribution of wealth. Such changes are related to two structural phenomena: in the nineteenth century, the rising number of individuals leaving no estate at death and, after World War I, the decline in the number of the very rich who could live off their wealth. The paper studies the movements between these groups and estimates the intergenerational elasticity of wealth, taking into account the persistence at the bottom and at the top.

Date: 2019
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