Chronic crisis of young households in Spain
A study on the distribution of wealth.
Keywords:
Wealth, Distribution, Intergenerational inequality, Home ownership, Young householdsAbstract
Based on the Bank of Spain's Survey of Household Finances, and using the Gini and Generalised Entropy indexes, the article analyses the evolution of the distribution of net wealth across age groups over the period 2002-2020. The results show growing polarization, and a decline in the relative position of young households. Inequality is primarily explained by intra-cohort dynamics and young households are now the most heterogeneous group, but differences between groups have increased significantly. The analysis points to changes in property ownership as one of the factors explaining rising inequality, as housing is the main asset in wealth.
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