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

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  • Richard Hauser

    (Johann Wolfgang Goethe-University, Frankfurt am Main)

  • Holger Stein

    (Johann Wolfgang Goethe-University, Frankfurt am Main)

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    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.

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    File URL: http://128.118.178.162/eps/mic/papers/0401/0401005.pdf
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    Bibliographic Info

    Paper provided by EconWPA in its series Microeconomics with number 0401005.

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    Date of creation: 16 Jan 2004
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    Handle: RePEc:wpa:wuwpmi:0401005

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    Web page: http://128.118.178.162

    Related research

    Keywords: Personal wealth distribution; Germany; inequality; household wealth; disposable wealth of age groups; disposable wealth of pseuda- cohorts;

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    References

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    1. Reil-Held, Anette, 2000. "Einkommen und Sterblichkeit in Deutschland : Leben Reiche länger?," Discussion Papers 580, Institut fuer Volkswirtschaftslehre und Statistik, Abteilung fuer Volkswirtschaftslehre.
    2. Wolff, Edward N, 1996. "International Comparisons of Wealth Inequality," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 42(4), pages 433-51, December.
    3. Burkhauser, Richard V & Frick, Joachim R & Schwarze, Johannes, 1997. "A Comparison of Alternative Measures of Economic Well-Being for Germany and the United States," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 43(2), pages 153-71, June.
    4. Reil-Held, Anette, 2000. "Einkommen und Sterblichkeit in Deutschland: Leben Reiche länger?," Sonderforschungsbereich 504 Publications 00-14, Sonderforschungsbereich 504, Universität Mannheim & Sonderforschungsbereich 504, University of Mannheim.
    5. Davies, James B. & Shorrocks, Anthony F., 2000. "The distribution of wealth," Handbook of Income Distribution, in: A.B. Atkinson & F. Bourguignon (ed.), Handbook of Income Distribution, edition 1, volume 1, chapter 11, pages 605-675 Elsevier.
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