Wealth inequality, intergenerational transfers and family background
Juan C. Palomino,
Juan Rodríguez and
INET Oxford Working Papers from Institute for New Economic Thinking at the Oxford Martin School, University of Oxford
This working paper was previously titled "Wealth inequality, intergenerational transfers and socioeconomic background" We estimate the contribution of intergenerational transfers (inheritances and gifts) and family background to wealth inequality in four OECD countries: France, Spain, Great Britain and the U.S. We compare the observed wealth distribution with a non-parametric counterfactual distribution where all differences in wealth associated with intergenerational transfers and family background are removed. Despite the diversity of the countries analysed, we find similar patterns. The combined contribution of intergenerational transfers and family background to wealth inequality is sizeable in the four countries, ranging from 36% in Great Britain to 49% in the U.S. When interactions between the two factors are accounted for, and the Shapley value decomposition is used to fully disentangle the contribution of each factor based on its marginal contribution, intergenerational transfers account for between 26% in Great Britain to 36% of wealth inequality in France, with family background ranging from 9% in France to 17% in the U.S.
JEL-codes: D31 D63 I24 (search for similar items in EconPapers)
Pages: 46 pages
Date: 2020-06, Revised 2021-07
New Economics Papers: this item is included in nep-isf
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8) Track citations by RSS feed
Downloads: (external link)
https://www.inet.ox.ac.uk/files/interg_transfers_w ... wp_final_july_21.pdf (application/pdf)
Journal Article: Wealth inequality, intergenerational transfers, and family background (2022)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:amz:wpaper:2020-15
Access Statistics for this paper
More papers in INET Oxford Working Papers from Institute for New Economic Thinking at the Oxford Martin School, University of Oxford Contact information at EDIRC.
Bibliographic data for series maintained by INET Oxford admin team ().