scholarly journals How Do Households Allocate Their Assets? Stylised Facts from the Eurosystem Household Finance and Consumption Survey

2014 ◽  
Author(s):  
Luc Arrondel ◽  
Laura Bartiloro ◽  
Pirmin Fessler ◽  
Peter Lindner ◽  
Thomas Y. Mathh ◽  
...  
Keyword(s):  
Household Finance ◽  
Consumption Survey

But what about that nice house you own? The impact of asset tests in minimum income schemes in Europe: An empirical exploration

2020 ◽  
pp. 095892872097013
Author(s):  
Sarah Marchal ◽  
Sarah Kuypers ◽  
Ive Marx ◽  
Gerlinde Verbist
Keyword(s):  
Household Finance ◽  
Welfare States ◽  
Microsimulation Model ◽  
Anglo Saxon ◽  
Minimum Income ◽  
The Poor ◽  
The Impact ◽  
Consumption Survey ◽  
European Welfare States

Means-tested transfer schemes in Europe and elsewhere tend to include not only income tests but also asset tests of various sorts. The role of asset tests in minimum income protection provisions has been extensively researched in the Anglo-Saxon context. Far fewer authors have assessed the role of asset tests on social policy in a continental European context. Although asset tests may be useful in singling out the more deserving of the poor, we know relatively little of their actual impact on eligibility and social outcomes in European welfare states. This paper looks at the prevalence and design of asset tests in European minimum income protection schemes. We distinguish between two main types of asset tests: outright disqualification when assets reach a certain value, versus a more gradual tapering at a fictional rate of return. We then analyse in greater detail how asset tests in Belgium and Germany, as representatives of these two types, affect minimum income protection eligibility and poverty outcomes. We use the EUROMOD microsimulation model on the Household Finance and Consumption Survey data in order to assess the effects of asset tests. This survey was explicitly designed to more realistically reflect assets and capital incomes.

scholarly journals Price-Level Changes and the Redistribution of Nominal Wealth across the Euro Area

2015 ◽  
Vol 14 (4) ◽  
pp. 871-906 ◽  
Author(s):  
Klaus Adam ◽  
Junyi Zhu
Keyword(s):  
Middle Class ◽  
Euro Area ◽  
Price Level ◽  
Household Finance ◽  
Wealth Inequality ◽  
Considerable Heterogeneity ◽  
Wealth Redistribution ◽  
High Inflation ◽  
Per Capita ◽  
Consumption Survey

Abstract We show that unexpected price-level movements generate sizable wealth redistribution in the Euro Area (EA), using sectoral accounts and newly available data from the Household Finance and Consumption Survey. The EA as a whole is a net loser of unexpected price-level decreases, with Italy, Greece, Portugal, and Spain losing most in per capita terms, and Belgium and Malta being net winners. Governments are net losers of deflation, while the household (HH) sector is a net winner in the EA as a whole. HHs in Belgium, Ireland, Malta, and Germany experience the biggest per capita gains, while HHs in Finland and Spain turn out to be net losers. Considerable heterogeneity exists also within the HH sector: relatively young middle class HHs are net losers of deflation, while older and richer HHs are winners. As a result, wealth inequality in the EA increases with unexpected deflation, although in some countries (Austria, Germany, and Malta) inequality decreases due to the presence of relatively few young borrowing HHs. We document that HHs’ inflation exposure varies systematically across countries, with HHs in high-inflation EA countries holding systematically lower nominal exposures.

Key methodological issues in the research on household wealth

2019 ◽  
Vol 64 (5) ◽  
pp. 34-47
Author(s):  
Marcin Wroński
Keyword(s):  
Financial Crisis ◽  
Public Policies ◽  
Household Finance ◽  
Household Wealth ◽  
Wealth Accumulation ◽  
Expert Committee ◽  
Methodological Issues ◽  
Policy Makers ◽  
Adequate Representation ◽  
Consumption Survey

The interest of economists and policy makers in collecting data on house-hold wealth has been growing over the last decade (from the beginning of financial crisis in 2008). It has two fundamental reasons: wealth accumulation and growing inequalities as well as formulation of better public policies. The aim of the article is to discuss key methodological issues in the research on household wealth, to present solutions devel-oped by the OECD expert committee applied in the Household Finance and Consumption Survey (HFCS) and to identify areas that require further consideration. Since 2010 signifi-cant progress has been achieved in the measurement of private wealth. Further research on the adequate representation of the richest households in the research sample and concepts of wealth broader than private wealth should be encouraged.

scholarly journals How Do Households Allocate Their Assets? Stylised Facts from the Eurosystem Household Finance and Consumption Survey

2014 ◽  
Author(s):  
Luc Arrondel ◽  
Laura Bartiloro ◽  
Pirmin Fessler ◽  
Peter Lindner ◽  
Thomas Mathae ◽  
...  
Keyword(s):  
Household Finance ◽  
Consumption Survey

scholarly journals Redistribution in a joint income–wealth perspective: A cross-country comparison

2019 ◽  
Author(s):  
Sarah Kuypers ◽  
Francesco Figari ◽  
Gerlinde Verbist
Keyword(s):  
Joint Distribution ◽  
Wealth Distribution ◽  
Household Finance ◽  
Living Standards ◽  
Microsimulation Model ◽  
Country Comparison ◽  
Cross Country ◽  
Redistributive Effects ◽  
Distribution Of Income ◽  
Consumption Survey

AbstractRedistribution is usually understood in terms of income, as a resource used to rank individuals as well as determine tax liabilities or benefit entitlements. Yet, it is increasingly argued that more prominence should be given to the joint distribution of income and wealth and interest into the taxation of wealth for redistributive purposes has largely increased. By including income and wealth data from the Eurosystem Household Finance and Consumption Survey into the tax–benefit microsimulation model EUROMOD, we add two novel aspects to the literature. First, we include the analysis of taxes on wealth and wealth transfers. Second, we evaluate redistributive effects of tax–benefit systems against the joint income–wealth distribution instead of income only. We show that expressing living standards in terms of both income and wealth results in considerable reranking of individuals, which in turn leads to a lower redistributive impact of tax–benefit systems than is traditionally considered.

scholarly journals What explains the gender gap in wealth? Evidence from administrative data

2020 ◽  
Author(s):  
Jaanika Meriküll ◽  
Merike Kukk ◽  
Tairi Rõõm
Keyword(s):  
Administrative Data ◽  
Gender Gap ◽  
Wealth Distribution ◽  
Household Finance ◽  
Married Couples ◽  
Men And Women ◽  
Individual Level ◽  
Self Employment ◽  
Asset Class ◽  
Consumption Survey

AbstractThis paper studies the gender gap in net wealth. We use administrative data on wealth that are linked to the Estonian Household Finance and Consumption Survey, which provides individual-level wealth data for all household types. The unconditional gender gap in mean wealth is 45%, but this sizeable gap in means originates mainly from the top tail of the distribution, where men have much more wealth than women, while the gender differences in wealth are statistically insignificant in most of the lower wealth quintiles. At the top of the distribution the differences in wealth can be explained by larger self-employment activity of men. Men have more business wealth than women do, and the gender wealth gap is the largest for this asset class. The gender wealth gaps across different household types are very heterogeneous. The unconditional gaps in wealth are strongly in favour of men throughout most of the wealth distribution for married couples. For single-member households, on the other hand, the raw gaps are in favour of women in the lower half of the wealth distribution. These raw gaps in opposite directions can mostly be explained by differences in the observed characteristics of men and women among married couples vs single people.

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