A Head-to-Head Comparison of Augmented Wealth in Germany and the United States
Timm Bönke (),
Markus Grabka (),
Carsten Schröder () and
Edward N. Wolff
No 899, SOEPpapers on Multidisciplinary Panel Data Research from DIW Berlin, The German Socio-Economic Panel (SOEP)
We provide levels of, compositions of, and inequalities in household augmented wealth – defined as the sum of net worth and pension wealth – for two countries: the United States and Germany. Pension wealth makes up a considerable portion of household wealth: about 48% in the United States and 61% in Germany. The higher share in Germany narrows the wealth gap between the two countries: While average net worth in the United States (US$337,000 in 2013) is about 1.8 times higher than in Germany, augmented wealth (US$651,000) is only 1.4 times higher. Further, the inclusion of pension wealth in household wealth reduces the Gini coefficient from 0.892 to 0.701 in the United States and from 0.765 to 0.511 in Germany.
Keywords: net worth; pension wealth; augmented wealth; wealth portfolio; SOEP; SCF (search for similar items in EconPapers)
JEL-codes: D31 H55 J32 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-age
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4) Track citations by RSS feed
Downloads: (external link)
Working Paper: A Head-to-Head Comparison of Augmented Wealth in Germany and the United States (2018)
Working Paper: A Head-to-Head Comparison of Augmented Wealth in Germany and the United States (2017)
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:diw:diwsop:diw_sp899
Access Statistics for this paper
More papers in SOEPpapers on Multidisciplinary Panel Data Research from DIW Berlin, The German Socio-Economic Panel (SOEP) Contact information at EDIRC.
Bibliographic data for series maintained by Bibliothek ().