We link tax returns across two generations to provide the first estimate of intergenerational mobility in Italy based on administrative income data. Italy emerges as less immobile than previously depicted by studies using proxies for economic status or survey data with imputation procedures....

We study the dynamics of the distribution of overlapping generation economy with finitely lived agents and inter-generational transmission of wealth. Financial markets are incomplete, exposing agents to both labor income and capital income risk. We show that the stationary wealth distribution is...

This paper attempts to quantitatively identify the factors that drive wealth dynamics in the U.S. and are consistent with its observed skewed cross-sectional distribution and social mobility. We concentrate on three critical factors: a skewed and persistent distribution of earnings, differential...