Housing tenure and wealth distribution in life-cycle economies
By: Pedro Silos
Contributors: Federal Reserve Bank of Atlanta.
Series: Working paper series / Federal Reserve Bank of Atlanta ;; 2005-25; Working paper series (Federal Reserve Bank of Atlanta : Online) ;; 2005-25.
Publisher: Federal Reserve Bank of Atlanta
Published: 2005
Place of publication: [Atlanta, Ga.]
Language: eng
Format: Electronic resource
Description: "Common practice in the housing and wealth distribution literature has proceeded as if the modeling of housing rental markets was unnecessary due to renters' relative low levels of wealth and the small fraction they represent in the total population. This paper shows, however, that their inclusion matters substantially when dealing with wealth concentration over the life cycle. Renters are concentrated in the poorer and younger groups. This concentration results in a pattern of housing wealth concentration over an agent's life that is decreasing, with a slope as steep as that of nonhousing (or financial) wealth. The author constructs an  overlapping-generations economy with a housing rental market that is consistent with this fact."--Federal Reserve Bank of Atlanta web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file (viewed on Oct. 27, 2005).
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.