Actualidad

INARBE organiza este seminario que se celebrará el día 6 de noviembre a las 12:00 en la sala de conferencias del edificio Jerónimo de Ayanz.

"The Wealth of Generations": Authors: Bauluz, L. and Meyer, T. (2024). World Inequality Lab, Working Paper No. 2024/04.

Abstract: This paper uses historical microdata available since 1960 to study lifetime wealth accumulation across birth cohorts in the U.S. We document a notable change in life-cycle behavior, with newer cohorts retiring after the 1980s accumulating significantly greater lifetime wealth than those before. Once retired, all cohorts exhibit zero wealth growth, but this hides the fact that the elderly in recent decades have become large dissavers amid rapidly appreciating assets. This phenomenon has led to a dramatic polarization in household saving flows between middle-aged rich savers and elderly dissavers. We link varying life-cycle saving with the post-1980s boom in asset prices.

Short bio: Luis Bauluz is an Assistant Professor (on tenure track) in the Economics Department at CUNEF Universidad and Wealth Aggregates Coordinator at the World Inequality Database. He received a PhD in Economics from the Paris School of Economics in 2018 and was a postdoctoral researcher at the MacroFinance & MacroHistory Lab of the University of Bonn. He is an empirical researcher interested in inequality and macroeconomic history.