Multidimensional Affluence: Theory and Applications to Germany and the US

Andreas Peichl and Nico Pestel

No 5926, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: This paper suggests multidimensional affluence measures for the top of the distribution. In contrast to commonly used top income shares, they allow the analysis of the extent, intensity and breadth of affluence in several dimensions within a common framework. We illustrate this by analyzing the role of income and wealth as dimensions of multidimensional well-being in Germany and the US in 2007 as well as for the US over the period 1989-2007. We find distinct country differences with the country ranking depending on the measure. While in Germany wealth predominantly contributes to the intensity of affluence, income is more important in the US.

Keywords: richness; multidimensional measurement; top incomes; wealth; inequality (search for similar items in EconPapers)
JEL-codes: D31 D63 I31 (search for similar items in EconPapers)
Pages: 46 pages
Date: 2011-08
New Economics Papers: this item is included in nep-ltv
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Citations: View citations in EconPapers (9)

Published - revised version published in: Applied Economics, 2013, 45 (32), 4591-4601

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Related works:
Journal Article: Multidimensional affluence: theory and applications to Germany and the US (2013)
Working Paper: Multidimensional affluence: Theory and applications to Germany and the US (2011)
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