Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/181330 
Authors: 
Year of Publication: 
2018
Series/Report no.: 
CESifo Working Paper No. 7130
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
Using detailed tax data from the Swiss canton of Bern, I examine how changes in wealth are related to income risk. I find that only among elderly individuals high kurtosis of income risk may be positively correlated with wealth accumulation. Additionally, I document that a substantial share of taxpayers have negative net wealth. While wealth and income are positively correlated for positive net wealth taxpayers, this correlation is negative for negative net wealth taxpayers. These negative net wealth investors experience sharp increases in wealth and income in subsequent periods. Finally, wealth risk is more dispersed than income risk.
JEL: 
D14
D31
E21
Document Type: 
Working Paper
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