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.
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- Nezih Guner & Remzi Kaygusuz & Gustavo Ventura, 2014.
"Income Taxation of U.S. Households: Facts and Parametric Estimates,"
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- 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.
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116, 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, 2006.
"Wealth Inequality: Data and Models,"
NBER Working Papers
12550, National Bureau of Economic Research, Inc.
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"Wealth inequality and intergenerational links,"
314, Federal Reserve Bank of Minneapolis.
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"US Inequality: Debt Constraints or Incomplete Asset Markets?,"
Staff General Research Papers Archive
32120, Iowa State University, Department of Economics.
- 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.
- Rodrigo Alfaro & Natalia Gallardo & Roberto Stein, 2010. "The Determinants of Household Debt Defa," Working Papers Central Bank of Chile 574, Central Bank of Chile.
- 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.
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