%0 Report
        %A Jäntti, Markus
%A Sierminska, Eva
%A Kerm, Philippe Van
        %T Modelling the Joint Distribution of Income and Wealth
        %D 2015
        %8 2015 Jul
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 9190
        %U https://www.iza.org/publications/dp9190
        %X This paper considers a parametric model for the joint distribution of income and wealth. The model is used to analyze income and wealth inequality in five OECD countries using comparable household-level survey data. We focus on the dependence parameter between the two variables and study whether accounting for wealth and income jointly reveals a different pattern of social inequality than the traditional 'income only' approach. We find that cross-country variations in the dependence parameter effectively accounts only for a small fraction of cross-country differences in a bivariate measure of inequality. The index appears primarily driven by differences in inequality in the wealth distribution.
        %K multivariate Gini
%K copula
%K inequality
%K wealth
%K income