Abstract

SANROMAN, Graciela  and  SANTOS, Guillermo. THE JOINT DISTRIBUTION OF INCOME AND WEALTH IN URUGUAY. Cuad. Econ. [online]. 2021, vol.40, n.83, pp.609-642.  Epub Oct 06, 2021. ISSN 0121-4772.  https://doi.org/10.15446/cuad.econ.v40n83.83315.

We analyse the joint distribution of income and wealth in Uruguay and compare it to that of Chile, Spain, and the U.S., using data from Surveys of Household Finances. We analyse income and wealth separately and find that wealth is more concentrated and asymmetric than income. We provide a non-parametric estimation of copulas for income and wealth. It reveals that high-income households are among the wealthiest while low-income households are at the bottom of the wealth distribution. When assessing the sources of income and wealth heterogeneity for Uruguay, we found that education strongly influences income, wealth, and joint distribution.

JEL: C4, C31, D31.

Keywords : Income; wealth; inequality; copula; non-parametric estimation.

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