A Century of Wealth in America

A Century of Wealth in America

by Edward N. Wolff


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Product Details

ISBN-13: 9780674495142
Publisher: Harvard
Publication date: 10/16/2017
Pages: 888
Sales rank: 589,282
Product dimensions: 6.40(w) x 9.40(h) x 2.50(d)

About the Author

Edward N. Wolff is a professor of economics at New York University and a research associate at the National Bureau of Economic Research. His books include Inheriting Wealth in America, Retirement Income, and The Transformation of the American Pension System.

Sean Runnette, a multiple AudioFile Earphones Award winner, has also produced several Audie Award-winning audiobooks. His film and television appearances include Two If by Sea, Copland, Sex and the City, Law & Order, Third Watch, and lots and lots of commercials.

Table of Contents

Preface xi

I Recent Developments in Personal Wealth

1 Plan of the Book and Historical Backdrop 3

2 Trends in Household Wealth, 1962 to 2013 39

3 Changing Portfolio Composition and the Rate of Return on Household Wealth 86

4 International Comparisons of Household Wealth Inequality 139

II Mechanisms Behind Changing Wealth Inequality

5 Deconstructing Wealth Trends, 1983-2013 177

6 Age-Wealth Profiles and the Life Cycle Model: Implications for Wealth Accumulation 211

7 Inheritances and the Distribution of Wealth 262

8 The Role of Social Security and Private Pensions 311

III Who Are the Rich and the Poor?

9 Wealth Differences among Socioeconomic Groups 369

10 Who Are the Rich? A Demographic Profile of High-Income and High-Wealth Americans 436

11 The Persistence of Asset Poverty 492

IV Wealth over the Long Term

12 Long-Term Trends in Aggregate Household Wealth 553

13 Long-Term Trends in the Concentration of Household Wealth 589

V Tax Policy and Conclusion

14 Wealth Taxation 619

15 Summary of Principal Findings and Concluding Comments 650

Appendix 1 Adjustments and Imputations Made to the 1962 SFCC and 1983, 1989, 1992, and 1995 SCF Data Files 685

Appendix 2 Construction of the 1969 MESP Dataset 711

Appendix 3 Estimation of Retirement Wealth 731

Notes 747

References 815

Acknowledgments 837

Index 839

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