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Intergenerational Differences in Income and Wealth: Evidence from Britain

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  • Jonathan Cribb

Abstract

How do average levels of income and wealth differ in Britain for those born between the 1930s and 1980s? Those in the 1980s cohort are the first post‐war generation not to have higher median incomes in their early 30s than those born a decade earlier, though they have much higher incomes than those born in the 1960s and earlier. Median wealth for those in the 1980s cohort is 20 per cent lower in their early 30s than it was for those born in the 1970s. This is driven by lower property wealth and homeownership: 40 per cent at age 30 for the 1980s cohort, compared with 55 per cent for the 1970s cohort.

Suggested Citation

  • Jonathan Cribb, 2019. "Intergenerational Differences in Income and Wealth: Evidence from Britain," Fiscal Studies, John Wiley & Sons, vol. 40(3), pages 275-299, September.
    • Handle: RePEc:wly:fistud:v:40:y:2019:i:3:p:275-299
    DOI: 10.1111/1475-5890.12202
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    Cited by:

    1. Roantree, Barra & Maître, Bertrand & McTague, Alyvia & Privalko, Ivan, 2021. "Poverty, income inequality and living standards in Ireland," Research Series, Economic and Social Research Institute (ESRI), number BKMNEXT412, June.
    2. Bee Boileau & David Sturrock, 2023. "Who gives and receives substantial financial transfers in Britain?," IFS Working Papers W23/08, Institute for Fiscal Studies.
    3. Gabriele Guaitoli & Roberto Pancrazi, 2022. "Global Trends in Intergenerational Income Inequality?," LIS Working papers 828, LIS Cross-National Data Center in Luxembourg.
    4. David Sturrock, 2023. "Wealth and welfare across generations," IFS Working Papers W23/15, Institute for Fiscal Studies.
    5. Rowena Crawford & Polly Simpson, 2020. "The impact of house prices on pension saving in early adulthood," IFS Working Papers W20/38, Institute for Fiscal Studies.

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