The Wealth Distribution in Developing Economies: Comparing the United States to Chile
This study examines the differences of income, assets, debt and wealth distributions between the U.S. and Chile. The study uses data from the 2008 Survey of Consumer Finance for the U.S. and data from the 2007 Financial Household Survey from Chile. The article reports different features on inequality among the two countries at the aggregate level but also by head of household demographic characteristics. We find that income and debt are more unequally distributed in Chile than in the US, but assets and wealth are more equally distributed in Chile than in the US. Our results suggest that, among theories that seek to explain wealth inequality in the US, entrepreneurship is the one that seems more plausible.
|Date of creation:||Aug 2013|
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- Marco Cagetti & Mariacristina De Nardi, 2006.
"Entrepreneurship, Frictions, and Wealth,"
Journal of Political Economy,
University of Chicago Press, vol. 114(5), pages 835-870, October.
- Marco Cagetti & Mariacristina De Nardi, 2003. "Entrepreneurship, frictions, and wealth," Staff Report 322, Federal Reserve Bank of Minneapolis.
- Marco Cagetti & Mariacristina De Nardi, 2005. "Entrepreneurship, frictions, and wealth," Working Paper Series WP-05-09, Federal Reserve Bank of Chicago.
- Marco Cagetti & Mariacristina De Nardi, 2003. "Entrepreneurship, frictions and wealth," Working Papers 620, Federal Reserve Bank of Minneapolis.
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- Cordoba, Juan-Carlos, 2008. "U.S. inequality: Debt constraints or incomplete asset markets?," Journal of Monetary Economics, Elsevier, vol. 55(2), pages 350-364, March.
- Cordoba, Juan Carlos, 2010. "US Inequality: Debt Constraints or Incomplete Asset Markets?," Staff General Research Papers Archive 32120, Iowa State University, Department of Economics.
- Mariacristina De Nardi, 2004. "Wealth Inequality and Intergenerational Links," Review of Economic Studies, Oxford University Press, vol. 71(3), pages 743-768.
- Mariacristina deNardi, 2000. "Wealth Inequality and Intergenerational Links," Econometric Society World Congress 2000 Contributed Papers 0547, Econometric Society.
- Mariacristina De Nardi, 2002. "Wealth inequality and intergenerational links," Staff Report 314, Federal Reserve Bank of Minneapolis.
- David Domeij & Jonathan Heathcote, 2004. "On The Distributional Effects Of Reducing Capital Taxes," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 45(2), pages 523-554, 05.
- Cagetti, Marco & De Nardi, Mariacristina, 2008. "Wealth Inequality: Data And Models," Macroeconomic Dynamics, Cambridge University Press, vol. 12(S2), pages 285-313, September.
- Marco Cagetti & Mariacristina De Nardi, 2005. "Wealth inequality: data and models," Working Paper Series WP-05-10, Federal Reserve Bank of Chicago.
- Marco Cagetti & Mariacristina De Nardi, 2006. "Wealth Inequality: Data and Models," NBER Working Papers 12550, National Bureau of Economic Research, Inc.
- Rodrigo Alfaro & Natalia Gallardo & Roberto Stein, 2010. "The Determinants of Household Debt Defa," Working Papers Central Bank of Chile 574, Central Bank of Chile.
- Nezih Guner & Remzi Kaygusuz & Gustavo Ventura, 2014. "Income Taxation of U.S. Households: Facts and Parametric Estimates," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 17(4), pages 559-581, October.
- Guner, Nezih & Kaygusuz, Remzi & Ventura, Gustavo, 2012. "Income Taxation of U.S. Households: Facts and Parametric Estimates," CEPR Discussion Papers 9078, C.E.P.R. Discussion Papers.
- Nezih Guner & Remzi Kaygusuz & Gustavo Ventura, 2013. "Income Taxation of U.S. Households: Facts and Parametric Estimates," Working Papers 705, Barcelona Graduate School of Economics.
- Huggett, Mark, 1996. "Wealth distribution in life-cycle economies," Journal of Monetary Economics, Elsevier, vol. 38(3), pages 469-494, December. Full references (including those not matched with items on IDEAS)
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