Severin Rapp

esteemed colleague @smaexie.bsky.social on some interesting new features of the GC wealth project data warehouse: consumer durables and offshore wealth. find out more about the GC wealth data here: wealthproject.gc.cuny.edu

🖥️🏝️

shoutout to two interesting papers of the NBER summer institute on wealth transfers and taxation: 1️⃣https://lucymsall.github.io/research_papers/MsallNaess_stepup_JMP.pdf 2️⃣https://conference.nber.org/conf_papers/f224515.pdf

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Summer feeling boring? Join the last Summer 2025 Multidisciplinary Seminar! I will be presenting on wealth at death, deathbed planning and tax policy at the bottom of the distribution. Join in person or 🌐: bit.ly/SCMDSS-Summe...

The GC CUNY Stone Center community showed up! Max Longmuir and Severin Rapp - current Postdoctoral Scholars and members of the GC Wealth Project team - presented ongoing research projects on wealth.
@smaexie.bsky.social @severinrapp.bsky.social @morellisal.bsky.social

amazing to see this published! congratulations and thanks for pointing out.

Just published in @jpube.bsky.social:

"The Influence of Inheritances on Wealth Inequality in Rich Countries"

By @morellisal.bsky.social, Brian Nolan, @juancpal.bsky.social, & Philippe Van Kerm

www.sciencedirect.com/science/arti...

#econsky #publiceconomics #publicfinance

Great honour and inspiration to be part of the session on inheritance at the LISIT with @izmartinez86.bsky.social and @bluebery-planterose.com. Looking back on an exciting symposium with super interesting contributions and informal discussions as well as an amazing scenery.

The Stone Center Announces Its Seventh Cohort of Postdoctoral Scholars - Stone Center on Socio-Economic Inequality A seventh cohort of postdoctoral scholars will join the Stone Center for two-year appointments that begin in August 2025: Naomi Crowther, who was selected for the position that focuses on wealth inequ...

The GC CUNY Stone Center is thrilled to announce our two newly selected postdoctoral scholars, Naomi Crowther @naomicrowther.bsky.social and Marai Hayes! They will start their two-year appointments at the @thegraduatecenter.bsky.social in August. Welcome, Naomi and Marai!

bit.ly/3XGbEDK

I am looking forward very much to welcoming @leastnngr.bsky.social tomorrow at the @stone-lis.bsky.social Spring 2025 Multidisciplinary Seminar Series. She will be speaking about the functional income distribution at the firm level - and how it is affected by monetary policy. bit.ly/SCMDSS-S25

The GC Wealth Project has launched an updated version of its data warehouse!
Key improvements: new data concepts, new sources, and expanded coverage of regions, countries, and time periods.
Discover all the updates:

wealthproject.gc.cuny.edu/news/article...

The GC Wealth Project Expanding and consolidating research and data on wealth, wealth inequalities, and wealth transfers and related tax policies — across countries and over time.

The newly released Version 1.2 does not only expand coverage, but also provides for example regional data for the US! Here is a summary article on the key novelties: wealthproject.gc.cuny.edu/news/article...

Update to the GC wealth project database just out. This great project draws together data on wealth (inequality). Some particularly nice features are:

⚖️ compare different data sources
💰 data on taxation
➗ decomposition of wealth by asset/debt types

wealthproject.gc.cuny.edu

Weekend reading: Research note "Schulden und Hinterlassenschaften: Die Verteilung von Nachlassvermögen in Wien" research.wu.ac.at/ws/portalfil... mit @franziskadbacher.bsky.social @lorenzbodner.bsky.social

How much of the wealth do the poorest 50% own in the US? Have wealth shares rebounded enough since 2008? Click to compare the U.S. to other countries through the GC Wealth Project’s interactive dashboard — see our new featured content here: wealthproject.gc.cuny.edu/news/article...

Multidisciplinary Seminar Series - Stone Center on Socio-Economic Inequality Fall Semester 2024 Hosted by Stone Center Postdoctoral Scholars All seminars will be held from 11:00 AM to 12:00 PM (EDT/EST) in hybrid format: In-Person Location: Stone Center Library and Meeting R...

join us this Thursday at the @stone-lis.bsky.social seminar for @smaexie.bsky.social presenting his research on the driving factors of the distribution of financial wealth. This will be super interesting (and its also the final seminar this year)! stonecenter.gc.cuny.edu/multidiscipl...

At what point do inheritances increase wealth inequality? What are the possible implications for the design of inheritance taxes? A new WP on data from 6 rich countries by @morellisal.bsky.social, Brian Nolan, @juancpal.bsky.social & Philippe Van Kerm. #EconSky
bit.ly/3OHw0Yw

Is there a better job?

Behavioral Responses to Inheritance Taxation – A Review of the Empirical Literature Increasing wealth inequality and concentration, together with the search for options to secure long-term sufficiency of tax systems in face of ageing …

Hot off the press by @margitschratz.bsky.social: A review article on the behavioural responses to inheritance taxation. Some takeaways: Real responses are smaller than avoidance, responses are smaller in more recent studies, tax design matters, ... worth a read: www.sciencedirect.com/science/arti...

3-year Postdoc Opportunity in the DECIPHE project at DIW Berlin.

You'll work closely with P. Lersch and collaborate with the team to study intergenerational persistence of homeownership in Europe.

Deadline: 15 Jan 2024

For job details: www.diw.de/sixcms/detai...

For DECIPHE: www.deciphe.eu

Brian Nolan is an incredible scholar, who has done a great deal to advance research on #poverty and #inequality. Here is a brief overview of some of his contributions.

Working under his supervision during my masters was a great experience that still shapes my own research.

Highly interesting WP by my esteemed colleague @zhexunmo.bsky.social: Reluctance to make choices in redistributive experiments in China may be indicative of diminished political agency.

Read the most recent @stone-lis.bsky.social working paper here: stonecenter.gc.cuny.edu/research/the...

The effects are sizable: People who underestimate their rank in the wealth distribution save on average 50% more than those who have accurate perceptions. Our novel instrumental variable approach suggests that misperceptions have a causal impact on behaviour.

This figure shows the average savings rate along the income distribution for 1. individuals who underestimate their rank in the wealth distribution (top line), and those with accurate perceptions and overestimators

This figure shows misperceptions along the net wealth distribution (perceived decile in the wealth distribution minus actual rank). The graph reveals a strong tendency towards the middle (the wealthy tend to overestimate, and low-wealth individuals underestimate).

We provide evidence that misperceptions are not an artefact of #survey response behaviour, but that individuals actually save more as the model predicts. This is direct evidence for #wealth in #utility preferences (that feature in a lot of recent #Econ theory).

In our new working paper, we extend our previous work and offer a model that shows how misperceptions of one's wealth rank affect savings. People who think that they are relatively less wealthy save more than others.

A concise overview of our working paper with P. Fessler on biased perceptions of #inequality and savings behaviour. We find that individuals misperceive how wealthy they are compared to others. Wealthy individuals who underestimate their wealth rank oversave #EconSky

brilliant thank you!

Poverty and social policy started pack with EU focus. Wave to be added.
go.bsky.app/BQXryVx