PhD in Economics, McMaster University, Canada, 1998 MA in Economics, McMaster University, Canada BSc in Honours Biology, Queen's University, Canada
Tom Crossley is a Research Fellow at IFS and a Professor of Economics at the University of Essex.
He was previously director of the consumption and saving research sector at IFS. His research interests are Household behaviour, financial security, living standards, the design and collection and analysis of survey data.
A special issue of Fiscal Studies launched today shows how wealth is concentrated among a small number of households, and is much more concentrated than incomes. Younger generations are on course to have less wealth at each point in life than earlier generations and inheritances do little to even out wealth holdings. It also draws attention to the relative lack of data on wealth holdings, especially among the very wealthiest. Wealth is a key determinant of wellbeing. It matters to households whether they have enough savings to see themselves through retirement and it matters for how they would respond to economic shocks and to fiscal and monetary policy. So understanding the distribution of wealth matters.