Should generations differ in their wealth accumulation

Document type
Working Paper
Author(s)
Crawford, Rowena; Sturrock, David
Publisher
Institute for Fiscal Studies
Date of publication
31 October 2019
Series
IFS Working Paper; WP19/27
Subject(s)
Poverty Alleviation Welfare Benefits and Financial Inclusion, Older Adults, Children and Young People
Collection
Social welfare
Material type
Reports

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In the UK, those born between the 1930s and 1950s have seen generation-on-generation increases in wealth, while those born more recently appear to have accumulated no more wealth than their predecessors had done by the same age. There is debate over the drivers, and therefore implications, of these trends. In this working paper, a heterogeneous agents lifecycle model has been used to quantify the potential importance of changing economic and demographic circumstances for the wealth accumulation of generations.

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