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The impact of inheritance on the distribution of wealth
— evidence from the UK | | Author(s) | Eleni Karagiannaki |
| Corporate Author | ESRC Centre for Analysis of Social Exclusion - CASE, Suntory-Toyota International Centres for Economics and Related Disciplines - STICERD, London School of Economics and Political Science |
| Publisher | STICERD, London, 2011 |
| Pages | 35 pp (CASEpaper 148) |
| Source | Centre for Analysis of Social Exclusion, London School of Economics, Houghton Street, London WC2A 2AE. http://sticerd.lse.ac.uk/case |
| Keywords | Wealth ; Assets [elderly] ; Social economics ; Legacies ; Longitudinal surveys. |
| Annotation | The author uses data on the value of housing wealth and other property and land from the British Household Panel Survey (BHPS) to examine how the distribution of wealth has been changing in the UK over the period 1995 to 2005. Also examined is how the sum of inheritance received between 1996 and 2005 contributed to observed trends in wealth accumulation and wealth inequality. The BHPS data confirms the substantial growth in net worth and of a substantial decrease in wealth inequality recorded in the survey. The main driver behind both trends was the rise in house prices and the resulting increase in the housing equity of middle wealth-holders. Inheritances were highly unequal and had a positive (but rather small) correlation with pre-inherited wealth. This meant that inherited wealth accounted for part of the observed inequality of net worth in 2005. However, some significant inheritors started with low initial wealth (and this was true within each age group). (RH). |
| Accession Number | CPA-121001010 B |
| Classmark | W7: JD: W4: QE7: 3J |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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