Have American Workers Always Been Low Savers? Patterns of Accumulation Among Working Households, 1885–1910

John James, Michael G. Palumbo and Mark Thomas

A chapter in Research in Economic History, 2006, pp 127-175 from Emerald Group Publishing Limited

Abstract: Based on empirical patterns of annual earnings and saving from new micro-data covering a large sample of American workers around a hundred years ago, we develop a model for simulating the cross-section distribution of wealth at the turn of the twentieth century. Our methodology allows for a direct comparison with the wealth distribution from a sample of families in a comparable part of the contemporary income distribution. Our primary finding is that patterns of wealth accumulation among American workers at the turn of the century bear a striking resemblance to contemporary profiles.

Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:eme:rehizz:s0363-3268(05)23004-5

DOI: 10.1016/S0363-3268(05)23004-5

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