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Wealth and the middle-class
Using an income-based definition of the middle class, we compare the distribution of net worth and the portfolio composition among all persons and various socio-economic groups including couples and single mothers
Wealth differentials between natives and immigrants in Luxembourg
The existence of the nativity wealth gap is examined by using household survey data for Luxembourg and other countries. Differences in the structure of the wealth portfolios between the groups are discussed. Results indicate a sizeable wealth gap exists between natives and immigrants even after controlling for demographic characteristics. Towards the upper tail of the wealth distribution the difference tends to narrow.
Joint Distribution of Income and Wealth
We model the joint distribution of income and wealth to assess the shape and strength of the association of income and wealth, and to be able to abstract from systematic differences in demographic structure across countries. By so doing, we are able to examine to what extent economic resources are associated in different countries with different background characteristics, such as educational level, family structure and age, and how income and net worth are associated conditional on such characteristics.
Wealth portfolios in a cross-national perspective
Comparisons of Decomposition Techniques
Numerous econometric methodologies have been suggested for decomposing general distributional statistics. In this study, we discuss the advantages and disadvantages of several decomposition techniques and conduct empirical comparisons of various methods by examining the wealth gap between natives and immigrants in Luxembourg. Some adoptable decomposition methods include: Juhn, Murphy, and Pierce (1993); DiNardo, Fortin, and Lemieux (1996); Machado and Mata (2005); Firpo, Fortin, and Thomas (2009); and Chernozhukov, Fernandez-Val, and Melly (2009).