Older or Wealthier? The Impact of Age Adjustment on Wealth Inequality*
提出一种新方法，从截面数据中剔除年龄对财富不平等的影响，保留其他因素造成的不平等。利用跨国可比数据库，发现常用方法得出的年龄调整后财富不平等图景与本文方法差异很大。
Abstract Differences in individual wealth holdings are widely viewed as a driving force of economic inequality. However, as this finding relies on cross‐sectional data, a concern is that older is confused with wealthier. We propose a new method to adjust for age effects in cross‐sections, which eliminates wealth inequality due to age, yet preserves inequality arising from other factors. Using a new cross‐country comparable database, we examine the impact of age adjustments on wealth inequality across countries and over time. We find that the most widely used method yields a substantially different picture of age‐adjusted wealth inequality than our method.