Household finance and income inequality in the euro area:
The size and composition of assets and liabilities of households differ vastly across the income distribution in euro area countries. This paper shows that differences between income groups in household finance on both sides of the balance sheet contribute to income inequality. The distribution of h...
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| Main Author: | |
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| Other Authors: | |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
2015
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| Series: | OECD Economics Department Working Papers
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| Subjects: | |
| Online Access: | Volltext |
| Summary: | The size and composition of assets and liabilities of households differ vastly across the income distribution in euro area countries. This paper shows that differences between income groups in household finance on both sides of the balance sheet contribute to income inequality. The distribution of household credit is two times as unequal and the distribution of stock market wealth four times as unequal as the distribution of household income. Larger credit and stock markets may thus widen income inequality by providing people with high incomes with better investment opportunities and raising the returns on their savings. In addition, financial institutions help people protect their consumption against temporary changes in their income. But they do so unevenly across the distribution, as a household is more likely to be denied credit if it has a low income. No evidence is found of discrimination in credit provision against women or immigrants |
| Physical Description: | 1 Online-Ressource (30 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/5js04v5wh9zs-en |
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| spelling | Denk, Oliver Verfasser aut Household finance and income inequality in the euro area Oliver Denk and Alexandre Cazenave-Lacroutz = Financement des ménages et inégalités de revenu dans la zone euro / Oliver Denk et Alexandre Cazenave-Lacroutz Financement des ménages et inégalités de revenu dans la zone euro Paris OECD Publishing 2015 1 Online-Ressource (30 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers The size and composition of assets and liabilities of households differ vastly across the income distribution in euro area countries. This paper shows that differences between income groups in household finance on both sides of the balance sheet contribute to income inequality. The distribution of household credit is two times as unequal and the distribution of stock market wealth four times as unequal as the distribution of household income. Larger credit and stock markets may thus widen income inequality by providing people with high incomes with better investment opportunities and raising the returns on their savings. In addition, financial institutions help people protect their consumption against temporary changes in their income. But they do so unevenly across the distribution, as a household is more likely to be denied credit if it has a low income. No evidence is found of discrimination in credit provision against women or immigrants Economics Euro Area Cazenave-Lacroutz, Alexandre ctb https://doi.org/10.1787/5js04v5wh9zs-en Verlag kostenfrei Volltext |
| spellingShingle | Denk, Oliver Household finance and income inequality in the euro area Economics Euro Area |
| title | Household finance and income inequality in the euro area |
| title_alt | Financement des ménages et inégalités de revenu dans la zone euro |
| title_auth | Household finance and income inequality in the euro area |
| title_exact_search | Household finance and income inequality in the euro area |
| title_exact_search_txtP | Household finance and income inequality in the euro area |
| title_full | Household finance and income inequality in the euro area Oliver Denk and Alexandre Cazenave-Lacroutz = Financement des ménages et inégalités de revenu dans la zone euro / Oliver Denk et Alexandre Cazenave-Lacroutz |
| title_fullStr | Household finance and income inequality in the euro area Oliver Denk and Alexandre Cazenave-Lacroutz = Financement des ménages et inégalités de revenu dans la zone euro / Oliver Denk et Alexandre Cazenave-Lacroutz |
| title_full_unstemmed | Household finance and income inequality in the euro area Oliver Denk and Alexandre Cazenave-Lacroutz = Financement des ménages et inégalités de revenu dans la zone euro / Oliver Denk et Alexandre Cazenave-Lacroutz |
| title_short | Household finance and income inequality in the euro area |
| title_sort | household finance and income inequality in the euro area |
| topic | Economics Euro Area |
| topic_facet | Economics Euro Area |
| url | https://doi.org/10.1787/5js04v5wh9zs-en |
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