The last three decades have been characterized by both rising wealth inequality and growing retirement income inadequacy, as a rising share of household s is expected to be unable to maintain its standard of living in retirement. At the same time, labor market risks—longer spells of unemployment and less stable earnings—and financial market risks—larger boom-and-bust cycles in the stock and housing markets—have gone up, too. And, as established in chapter 2, households have become more exposed to the potential fallout from these market risks.
KeywordsRisk Exposure Market Risk Earning Growth Wealth Inequality Asset Ratio
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