Housing Expenditure and Income Inequality

• 成果类型: Article
• 署名作者: Dustmann, Christian; Fitzenberger, Bernd; Zimmermann, Markus
• 署名单位: University of London; University College London; University of Erlangen Nuremberg; Leibniz Association; Ifo Institut; IZA Institute Labor Economics; Humboldt University of Berlin
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1093/ej/ueab097
• 发表日期: 2022
• 页码: 1709-1736
• 关键词: germany; DECOMPOSITION; consumption; discount

摘要

The trend of rising income inequality in Germany since the mid-1990s is strongly amplified when considering income after housing expenditure. The income share of housing expenditure rose disproportionally for the bottom income quintile and fell for the top quintile. Factors contributing to these trends include declining relative costs of homeownership versus renting, changes in household structure, declining real incomes for low-income households and residential mobility towards larger cities. Younger cohorts spend more on housing and save less than older cohorts did at the same age, which will affect future wealth accumulation, particularly at the bottom of the income distribution.