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Modeling the Joint Distribution of Income and Wealth
Jäntti, Markus; Sierminska, Eva M.; Van Kerm, Philippe
2015In Garner, Thesia; Short, Kathleen (Eds.) Measurement of Poverty, Deprivation, and Economic Mobility
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Abstract :
[en] This paper considers a parametric model for the joint distribution of income and wealth. The model is used to analyze income and wealth inequality in five OECD countries using comparable household-level survey data. We focus on the dependence parameter between the two variables and study whether accounting for wealth and income jointly reveals a different pattern of social inequality than the traditional “income only” approach. We find that cross-country variations in the dependence parameter effectively account only for a small fraction of cross-country differences in a bivariate measure of inequality. The index appears primarily driven by differences in inequality in the wealth distribution.
Disciplines :
Social economics
Quantitative methods in economics & management
Sociology & social sciences
Author, co-author :
Jäntti, Markus;  Stockholm University
Sierminska, Eva M.;  Luxembourg Institute of Socio-Economic Research - LISER
Van Kerm, Philippe  ;  Luxembourg Institute of Socio-Economic Research - LISER
External co-authors :
yes
Language :
English
Title :
Modeling the Joint Distribution of Income and Wealth
Publication date :
2015
Main work title :
Measurement of Poverty, Deprivation, and Economic Mobility
Editor :
Garner, Thesia
Short, Kathleen
Publisher :
Emerald Group Publishing Limited
Collection name :
Research on Economic Inequality
Pages :
301-327
Peer reviewed :
Peer reviewed
Focus Area :
Computational Sciences
Available on ORBilu :
since 28 February 2018

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