The joint distribution of income and wealth in Uruguay

Graciela Sanroman () and Guillermo Santos ()

Revista Cuadernos de Economia, 2021, vol. 40, issue 83, 609-642

Abstract: We analyse the joint distribution of income and wealth in Uruguay and compare it to that of Chile, Spain, and the U.S., using data from Surveys of Household Finances. We analyse income and wealth separately and find that wealth is more concentrated and asymmetric than income. We provide a non-parametric estimation of copulas for income and wealth. It reveals that high-income households are among the wealthiest while low-income households are at the bottom of the wealth distribution. When assessing the sources of income and wealth heterogeneity for Uruguay, we found that education strongly influences income, wealth, and joint distribution. ****** Este artículo analiza la distribución conjunta del ingreso-riqueza en Uruguay y la compara con Chile, Espana y Estados Unidos, por medio de encuestas financieras de hogares. Se analizan las distribuciones univariantes de ingreso y riqueza, y se encuentra que la última es más concentrada y asimétrica que la primera. Se estiman cópulas no paramétricas para la distribución conjunta que revelan que los hogares de altos ingresos se encuentran entre los de mayor riqueza y que los de menores ingresos entre los de menor riqueza. Se descubre que, en Uruguay, la educación es la principal fuente de heterogeneidad del ingreso, la riqueza y la distribución conjunta. ****** Este artigo analisa a distribuicao conjunta de renda-riqueza no Uruguai e a compara com Chile, Espanha e Estados Unidos, por meio de pesquisas financeiras domiciliares. As distribuicoes univariadas de renda e riqueza sao analisadas, e a última se mostra mais concentrada e assimétrica do que a primeira. Cópulas nao paramétricas sao estimadas para a distribuicao conjunta que revelam que as famílias de alta renda estao entre aquelas com maior riqueza e que aquelas com renda mais baixa estao entre aquelas com menos riqueza. Descobriu-se que, no Uruguai, a educacao é a principal fonte de heterogeneidade de renda, riqueza e distribuicao conjunta.

Keywords: Income; wealth; inequality; copula; non-parametric estimation. (search for similar items in EconPapers)
JEL-codes: C31 C4 D31 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Related works:
Working Paper: The Joint Distribution of Income and Wealth in Uruguay (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:col:000093:020181

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