文章基本信息

标题：Wealth and income in the euro area: Heterogeneity in households' behaviours?
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作者：Luc Arrondel ; Muriel Roger ; Frédérique Savignac 等
期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2014
出版社：European Central Bank
摘要：This article aims at linking the household wealth and income distributions for 15 European countries using theHousehold Finance and Consumption Survey. We study the role played by the household’s location in theincome distributions in determining its location in the wealth distribution. A generalized ordered probit model isestimated to explain the role played by the position in the income distribution and by intergenerational transferson the probability to be in a given wealth decile in each country. As expected, we obtain that a rise in income orhaving received gifts and inheritances increases the probability to be in higher wealth deciles. Most importantly,we find evidences of heterogeneity in accumulation behaviours along the wealth distribution in France, Finland,Germany, Greece, Italy, Slovakia and Spain. The relative effect of income or inheritance on wealth accumulationvaries, depending on the rank of the households in the wealth distribution. We also highlight some specificity inthe top of the wealth distribution.
关键词：wealth and income distributions; inheritances; accumulation behaviours; cross-country comparisons;generalized ordered probit model