Heterogeneity in Family Life Course Patterns and Intra-Cohort Wealth Disparities in Late Working Age

Considering soaring wealth inequalities in older age, this research addresses the relationship between family life courses and widening wealth differences between individuals as they age. We holistically examine how childbearing and marital histories are associated with personal wealth at ages 50–59 for Western Germans born between 1943 and 1967. We propose that deviations from culturally and institutionally-supported family patterns, or the stratified access to them, associate with differential wealth accumulation over time and can explain wealth inequalities at older ages. Using longitudinal data from the German Socio-Economic Panel Study (SOEP, v34, waves 2002–2017), we first identified typical family trajectory patterns between ages 16 and 50 with multichannel sequence analysis and cluster analysis. We then modelled personal wealth ranks at ages 50–59 as a function of family patterns. Results showed that deviations from the standard family pattern (i.e. stable marriage with, on average, two children) were mostly associated with lower wealth ranks at older age, controlling for childhood characteristics that partly predict selection into family patterns and baseline wealth. We found higher wealth penalties for greater deviation and lower penalties for moderate deviation from the standard family pattern. Addressing entire family trajectories, our research extended and nuanced our knowledge of the role of earlier family behaviour for later economic wellbeing. By using personal-level rather than household-level wealth data, we were able to identify substantial gender differences in the study associations. Our research also recognised the importance of combining marital and childbearing histories to assess wealth inequalities.

Konsep Entitas Bagi Usaha Sampingan Ibu Rumah Tangga

The problem in this service activity is the lack of understanding, knowledge and skills of housewives in separating personal wealth and business property or in this case better known as the entity concept. The purpose of this service activity is to improve the understanding and skills of housewives in applying the entity concept in managing their side business. This service activity uses lecture, discussion and direct practic methods. The success of this activity was determined that most of the mothers who had a side business or about 85% of the participants who took part in this training activity understood and were able to apply the concept of a business entity to the management of their side business.

The Concentration of Personal Wealth in Italy 1995–2016

Italy is one the countries with the highest wealth-to-income ratio in the developed world. Yet, despite the growing policy interest, knowledge about the size distribution of wealth is currently limited. In this paper we expand our windows of observation on the distribution of personal wealth using a novel source on the full record of inheritance tax files. The data cover up to 63% of the deceased population and are available between 1995 and 2016, a period of substantial economic turbulence and structural reform for the Italian economy. Our benchmark results rely on the distribution of the net wealth observed in the National Accounts balance sheets. Unlike available statistics estimated from household survey data, our results point to a strong rise in wealth concentration and inequality since the mid-1990s. Whereas the level of wealth concentration in Italy is in line with those of other European countries, its time trend appears more in line with the U.S. experience. Moreover, Italy stands out as one of the countries with the strongest decline in the wealth share of the bottom 50% of the adult population. We explore the role of household wealth portfolios, accumulation patterns during the life cycle, and inheritance flows, its concentration, and taxation patterns as main drivers of the trends observed. A range of alternative series of wealth concentration helps us better understand the role of adjustments and imputations and is based on a multi-series approach, i.e., comparing the pieces of information given by different and competing sources. (Stone Center on Socio-Economic Inequality Working Paper)

Positional Consumption and the Wedding Industry

Recent decades have seen substantial increases in the average amount of money spent on wedding ceremonies in economically developed countries. This article develops an account of wedding expenditure as a form of positional competition where participation involves purchasing services in a market. The main emphasis is on the role that conspicuously expensive weddings can play in enabling certain kinds of signalling, most notably the signalling of commitment to a personal relationship and a distinct signalling of personal wealth. The analysis seeks to demonstrate how wedding expenditure is both similar to but distinct from the positional consumption associated with markets in other goods and services. While much of the work in this article is descriptive, it aims to complement more normatively engaged work on the moral status of marriage, and on the proper evaluation and response to excessive positional consumption.

Commercial Bank’s Innovation Research in Personal Wealth Management Products

The personal wealth management products of commercial banks have promoted the transformation of people’s asset allocation methods. The personal wealth management business of China’s commercial banks is still in the stage of exploration and expansion. It has established a sound and reasonable operation and sales model, and continuously improved the innovative capabilities of commercial bank personal wealth management products.

Short Selling and Tax Disclosure: Evidence from Regulation SHO

We use a regulatory shock to examine whether the prospect of short selling affected tax disclosures. From May 2005 to August 2007, the Securities and Exchange Commission initiated a pilot program under Regulation SHO, temporarily exempting one-third of the Russell 3000 index firms from short sale price tests, reducing short selling costs. Before the pilot program, we find that pilot firms' income tax footnote disclosures are similar to non-pilot firms. During the pilot program, we find that pilot firms have more readable income tax footnotes than non-pilot firms. The words describing tax activities also changed for tax aggressive pilot firms. In further tests, we observe greater readability among pilot firms led by senior executives whose personal wealth is more sensitive to stock price changes. After the pilot program ends, the differences between pilot and non-pilot firms disappear. These results suggest that the prospect of short selling affects tax disclosures.

Textiles

As with many crafts, textiles and their production have been a poor relation in studies of ancient Egypt, and even today a detailed academic description of a stele or relief is more likely to concentrate on artistic merit, hieroglyphs, role, and status with only the most basic description of clothing. The study of textiles has been seen as a gendered (female)—non-archaeological (museum and craft)—specialization, and only recently has this changed. This chapter seeks to place textiles and clothing at the heart of our understanding of Egyptian society as the main signifier of gender, status, and personal wealth. It also briefly addresses how wealth was measured in the ancient world and the impact of textiles on land use and the economy.