Tsuneo Ishikawa
- Published in print:
- 2002
- Published Online:
- November 2003
- ISBN:
- 9780198288626
- eISBN:
- 9780191596469
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/019828862X.003.0007
- Subject:
- Economics and Finance, Public and Welfare
This chapter discusses the basic determinants of the generation of wealth and its distribution across households; it has four sections. Section 7.1 considers the life cycle motive as a basis of ...
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This chapter discusses the basic determinants of the generation of wealth and its distribution across households; it has four sections. Section 7.1 considers the life cycle motive as a basis of household saving behaviour, paying particular attention to the role played by the pension annuity system. Section 7.2 discusses the role of education in transmitting wealth between parents and children. Section 7.3 turns to the topic of macroeconomics and looks at how the rate of return is determined in the long term, thereby showing how the theoretical discussions in this book form a general equilibrium framework. Section 7.4 takes up the question of asset and related expectations––asset price fluctuation is considered one of the major causes of generation of huge wealth in the short term, but there are various conflicting dimensions to this problem.Less
This chapter discusses the basic determinants of the generation of wealth and its distribution across households; it has four sections. Section 7.1 considers the life cycle motive as a basis of household saving behaviour, paying particular attention to the role played by the pension annuity system. Section 7.2 discusses the role of education in transmitting wealth between parents and children. Section 7.3 turns to the topic of macroeconomics and looks at how the rate of return is determined in the long term, thereby showing how the theoretical discussions in this book form a general equilibrium framework. Section 7.4 takes up the question of asset and related expectations––asset price fluctuation is considered one of the major causes of generation of huge wealth in the short term, but there are various conflicting dimensions to this problem.
Kirk Hamilton and Cameron Hepburn
- Published in print:
- 2017
- Published Online:
- October 2017
- ISBN:
- 9780198803720
- eISBN:
- 9780191844119
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198803720.003.0020
- Subject:
- Economics and Finance, International, Development, Growth, and Environmental
Investors regularly interrogate corporate balance sheets; citizens should be able to interrogate their national balance sheets in much the same way. This chapter advances the view that the widespread ...
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Investors regularly interrogate corporate balance sheets; citizens should be able to interrogate their national balance sheets in much the same way. This chapter advances the view that the widespread adoption of national wealth measures could soon become a reality if demand from key actors in policymaking and civil society is sustained. What would this mean for future policy directions? Just as there has long been a fixation on increasing the rate of GDP growth, it is plausible that the availability of national wealth measures could lead to calls for greater wealth. This would lead to a focus on policies different from those targeted at increasing output. As the concept and definition of national wealth become more established, six dimensions arise to drive policy and implementation questions such as this one. These dimensions are wealth measurement, composition, distribution, generation, management, and sustainability. This chapter considers the emerging questions and possible conclusions.Less
Investors regularly interrogate corporate balance sheets; citizens should be able to interrogate their national balance sheets in much the same way. This chapter advances the view that the widespread adoption of national wealth measures could soon become a reality if demand from key actors in policymaking and civil society is sustained. What would this mean for future policy directions? Just as there has long been a fixation on increasing the rate of GDP growth, it is plausible that the availability of national wealth measures could lead to calls for greater wealth. This would lead to a focus on policies different from those targeted at increasing output. As the concept and definition of national wealth become more established, six dimensions arise to drive policy and implementation questions such as this one. These dimensions are wealth measurement, composition, distribution, generation, management, and sustainability. This chapter considers the emerging questions and possible conclusions.
