Inequality of the Distribution of Personal Wealth in Germany 1973-1998

Richard Hauser and Holger Stein
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Richard Hauser: Johann Wolfgang Goethe-University, Frankfurt am Main
Holger Stein: Johann Wolfgang Goethe-University, Frankfurt am Main

Microeconomics from University Library of Munich, Germany

Abstract: This paper attempts to define financial globalization as a process whereby financial markets internationally are integrated so closely that they can be considered as a single market. The process, viewed as a by- product of financial liberalization, is only a necessary condition for financial globalization, however. The sufficient condition is the creation of world-wide single currency, managed and regulated by a single international monetary authority. The system itself needs to be managed carefully to avoid the kind of crises countries have experienced over the last 30 years or so. This sufficient condition has not yet been met.

Keywords: Personal wealth distribution; Germany; inequality; household wealth; disposable wealth of age groups; disposable wealth of pseuda- cohorts (search for similar items in EconPapers)
JEL-codes: D31 (search for similar items in EconPapers)
Date: 2004-01-16
New Economics Papers: this item is included in nep-eec, nep-his and nep-ifn
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