Found 2 article(s) for author 'Wealth'

Why the U.S. Is Still Richer Than Every Other Large Country

Why the U.S. Is Still Richer Than Every Other Large Country.¬†Martin Feldstein, April 20, 2017, Opinion, “Each year, the United States produces more per person than most other advanced economies. In 2015 real GDP per capita was $56,000 in the United States. The real GDP per capita in that same year was only $47,000 in Germany, $41,000 in France and the United Kingdom, and just $36,000 in Italy, adjusting for purchasing power. In short, the U.S. remains richer than its peers. But why?Link

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Does Your Home Make You Wealthy?

Does Your Home Make You Wealthy?¬†Alexandra Killewald, November 16, 2016, Paper, “Estimating the lifetime wealth consequences of homeownership is complicated by ongoing events, such as divorce or inheritance, that may shape both homeownership decisions and later-life wealth. We argue that prior research that has not accounted for these dynamic selection processes has overstated the causal effect of homeownership on wealth. Using NLSY79 data and marginal structural models, we find that each additional year of homeownership increases midlife wealth in 2008 by about $6,800, more than 25 percent less than estimates from models that do not account for dynamic selection. Hispanic and African American wealth benefits from each homeownership year are 62 percent and 48 percent as large as those of whites, respectively.” Link

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