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The Capital Advanta...
The Capital Advantage : Comparing Returns to Ability in the Labor and Capital Markets
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- Bastani, Spencer, Docent, 1982- (författare)
- Research Institute of Industrial Economics (IFN), Sweden:Uppsala University, Sweden;CESIfo, Germany
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- Karlsson, Kristina (författare)
- Uppsala University, Sweden;Research Institute of Industrial Economics (IFN), Sweden
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- Kolsrud, Jonas (författare)
- Linnéuniversitetet,Institutionen för nationalekonomi och statistik (NS)
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- Waldenström, Daniel (författare)
- Research Institute of Industrial Economics (IFN), Sweden
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(creator_code:org_t)
- ISBN 9789180821308
- Institutionen för nationalekonomi och statistik, Linnéuniversitetet, 2024
- Engelska 54 s.
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Serie: Working papers in economics and statistics ; 2024:1
- Relaterad länk:
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https://doi.org/10.1...
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https://lnu.diva-por... (primary) (Raw object)
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https://urn.kb.se/re...
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https://doi.org/10.1...
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Abstract
Ämnesord
Stäng
- Using administrative tax and military records, we show that cognitive ability is more strongly associated with capital income than with labor income. This result holds across intensive and extensive margins, across different income types, and after controlling for education, occupation, inheritance, and parental background. Higher ability individuals save more, are better at selecting high-return stocks, hold more risky assets, and are less likely to live hand-to-mouth. Capital market returns are higher for cognitive ability than for non-cognitive skills, and the difference is stable over time. Rising capital shares, fueled by technological progress, could therefore exacerbate cognitive ability-based economic inequality.
Ämnesord
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Nyckelord
- Economics
- Nationalekonomi
Publikations- och innehållstyp
- vet (ämneskategori)
- rap (ämneskategori)
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