Private Pensions: To What Extent Do They Account for Swedish Wealth Inequality?
Sweden's distribution of disposable income is very even, with a Gini coefficient of just 0.31. Yet, the wealth distribution is extremely unequal, with a Gini coefficient of 0.79. Moreover, Swedish wealth inequality is to a very large extent driven by the large fraction of households with zero or negative wealth. In this paper, we ask to what extent the resditributive public pension scheme is responsible for these features of the data. To address this question, we study the properties of two overlapping generations economies with uninsurable idiosyncratic risk. The first has a pension system modeled o the actual one, the second has no public pension scheme at all. Our findings support the view that the public pension scheme is to a large extent responsible for the features of the data that we focus on. (Copyright: Elsevier)
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 5 (2002)
Issue (Month): 3 (July)
|Contact details of provider:|| Postal: |
Web page: http://www.EconomicDynamics.org/review.htm
More information through EDIRC
|Order Information:|| Web: http://www.EconomicDynamics.org/RED17.htm Email: |
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Domeij, David & Heathcote, Jonathan, 2000.
"Factor Taxation with Heterogeneous Agents,"
SSE/EFI Working Paper Series in Economics and Finance
372, Stockholm School of Economics.
- Vincenzo Quadrini, 2000.
"Entrepreneurship, Saving and Social Mobility,"
Review of Economic Dynamics,
Elsevier for the Society for Economic Dynamics, vol. 3(1), pages 1-40, January.
- Vincenzo Quadrini, 1997. "Entrepreneurship, saving and social mobility," Discussion Paper / Institute for Empirical Macroeconomics 116, Federal Reserve Bank of Minneapolis.
- Vincenzo Quadrini & José-Víctor Ríos-Rull, 1997. "Understanding the U.S. distribution of wealth," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Spr, pages 22-36.
- David Domeij & Martin Floden, 2006.
"The Labor-Supply Elasticity and Borrowing Constraints: Why Estimates are Biased,"
Review of Economic Dynamics,
Elsevier for the Society for Economic Dynamics, vol. 9(2), pages 242-262, April.
- Domeij, David & Floden, Martin, 2001. "The labor-supply elasticity and borrowing constraints: Why estimates are biased," SSE/EFI Working Paper Series in Economics and Finance 480, Stockholm School of Economics.
- Martin Floden, 2000.
"The Effectiveness of Government Debt and Transfers as Insurance,"
Econometric Society World Congress 2000 Contributed Papers
1013, Econometric Society.
- Floden, Martin, 2001. "The effectiveness of government debt and transfers as insurance," Journal of Monetary Economics, Elsevier, vol. 48(1), pages 81-108, August.
- Floden, Martin, 2000. "The Effectiveness of Government Debt and Transfers as Insurance," SSE/EFI Working Paper Series in Economics and Finance 377, Stockholm School of Economics.
- S. Rao Aiyagari, 1993.
"Uninsured idiosyncratic risk and aggregate saving,"
502, Federal Reserve Bank of Minneapolis.
- Luis Cubeddu & Jose-Victor Rios-Rull, 1997. "Marital risk and capital accumulation," Staff Report 235, Federal Reserve Bank of Minneapolis.
- Mariacristina De Nardi, 1999. "Wealth inequality, intergenerational links and estate taxation," Working Paper Series WP-99-13, Federal Reserve Bank of Chicago.
- Huggett, Mark, 1996. "Wealth distribution in life-cycle economies," Journal of Monetary Economics, Elsevier, vol. 38(3), pages 469-494, December.
- Huggett, Mark & Ventura, Gustavo, 2000.
"Understanding why high income households save more than low income households,"
Journal of Monetary Economics,
Elsevier, vol. 45(2), pages 361-397, April.
- Mark Huggett & Gustavo Ventura, 1997. "Understanding Why High Income Households Save More Than Low Income Households," Working Papers 9701, Centro de Investigacion Economica, ITAM.
- Mark Huggett & Gustavo Ventura, 1995. "Understanding why high income households save more than low income households," Discussion Paper / Institute for Empirical Macroeconomics 106, Federal Reserve Bank of Minneapolis.
When requesting a correction, please mention this item's handle: RePEc:red:issued:v:5:y:2002:i:3:p:503-534. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christian Zimmermann)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.