Inheriting wealth in America : future boom or bust? /
Inheritances are often regarded as a great 'evil', enabling great fortunes to be passed from one generation to another, exacerbating wealth inequality, and reducing wealth mobility. Using data from the Survey of Consumer Finances, the Panel Study of Income Dynamics, and a simulation model...
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| Format: | eBook |
| Language: | English |
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New York, NY :
Oxford University Press,
[2015]
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| Online Access: | Connect to the full text of this electronic book |
Table of Contents:
- ""Cover""; ""Inheriting Wealth in America: Future Boom or Bust?""; ""Copyright""; ""CONTENTS""; ""1. Introduction: Why Inheritances Matter""; ""1.1 PROLOGUE""; ""1.2 OVERVIEW AND PLAN OF THE BOOK""; ""2. Background Material""; ""2.1 LITERATURE REVIEW ON INHERITANCES""; ""2.1.1 Theoretical considerations""; ""2.1.2 Direct empirical evidence from the recipient side""; ""2.1.2.1 EARLIER LITERATURE""; ""2.1.2.2 MORE RECENT LITERATURE""; ""2.1.2.3 SOCIOECONOMIC DIFFERENCES IN WEALTH TRANSFERS""; ""2.1.3 DIRECT EMPIRICAL EVIDENCE FROM THE DONOR SIDE""; ""2.1.4 Indirect empirical evidence""
- ""2.2 HOUSEHOLD WEALTH TRENDS, 1983�2010""""2.2.1 Historical overview""; ""2.2.2 Data sources and methods""; ""2.2.3 Median wealth plummets over the late 2000s""; ""2.2.4 Wealth inequality jumps in the late 2000s""; ""2.2.5 Household debt remains high""; ""2.2.5.1 PORTFOLIO COMPOSITION BY WEALTH CLASS""; ""2.2.6 The role of leverage""; ""2.2.6.1 TWO ARITHMETIC EXAMPLES""; ""2.2.6.2 RATES OF RETURN""; ""2.2.7 The racial divide widens""; ""2.2.8 Wealth drops steeply among younger households""; ""2.2.9 Time trends change when pension and Social Security wealth are included""
- ""2.2.9.1 DATA SOURCES AND ACCOUNTING FRAMEWORK""""2.2.9.2 TRENDS IN PENSION WEALTH""; ""2.2.9.3 TRENDS IN PRIVATE AUGMENTED WEALTH (PAW)""; ""2.2.9.4 SOCIAL SECURITY AND AUGMENTED WEALTH""; ""2.2.10 Summary and concluding remarks""; ""3. Inheritances and the Distribution of Wealth: or, Whatever Happened to the Great Inheritance Boom?""; ""3.1 WEALTH TRANSFER DATA IN THE SCF""; ""3.2 DATA SOURCES AND METHODS""; ""3.3 EMPIRICAL FINDINGS, 1989�2010""; ""3.3.1 O verall trends in inheritances, 1989�2010""; ""3.3.2 Inheritance trends by income, wealth, and demographic group""
- ""3.3.3 Wealth transfers and lifetime earnings""""3.3.4 Recent wealth transfers""; ""3.3.5 The inequality of wealth transfers and the overall inequality of wealth""; ""3.3.6 Differential savings rates by wealth class""; ""3.3.7 Sensitivity analysis""; ""3.4 SUMMARY AND CONCLUDING REMARKS""; ""3.4.1 Have wealth transfers become more important over time?""; ""3.4.2 Have wealth transfers led to higher wealth inequality?""; ""3.4.3 Have wealth transfers become more unequal over time?""; ""3.4.4 Do wealth transfers rise with age?""; ""3.4.5 How important are wealth transfers for the very rich?""
- ""3.4.6. How did the Great Recession affect wealth transfers?""""APPENDIX: Questions on Wealth Transfers and Work History in the Survey of Consumer Finances Questionnaire""; ""A1 QUESTIONS ASKED ON GENERAL INHERITANCES IN THE 1998 SCF""; ""A2 QUESTIONS ON THE INHERITANCE OF REAL PROPERTY AND BUSINESSES""; ""A3 QUESTIONS ON WORK HISTORY IN THE 1998 SCF""; ""4. An Examination of Inheritances Using the Panel Survey of Income Dynamics""; ""4.1 WEALTH DATA IN THE PSID""; ""4.2 PATTERNS OF INHERITANCES""; ""4.3 DO INHERITANCES SUBSTITUTE FOR OTHER SAVINGS?""; ""4.4 CONCLUDING REMARKS""