TY  - RPRT
        AU  - Jäntti, Markus
AU  - Sierminska, Eva
AU  - Kerm, Philippe Van
        TI  - Modelling the Joint Distribution of Income and Wealth
        PY  - 2015/Jul/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 9190
        UR  - https://www.iza.org/publications/dp9190
        AB  - 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.
        KW  - multivariate Gini
KW  - copula
KW  - inequality
KW  - wealth
KW  - income
        ER  -