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16 This is probably linked with a wealth effect, as volumes are driven by the wealth of the recipient (see Kolin and Davis (1999), Berthelemy and Toledano (2000)).
(Berthelemy and Toledano 2000; Kolin and Smith 1999) In fact the U.S. has the most skewed income distribution of any industrialized country as measured by the World Bank's Gini Index.