How do aggregate wealth-to-income ratios evolve in the long run and why? We address this question using 1970 … able to extend our analysis as far back as 1700. We find in every country a gradual rise of wealth-income ratios in recent … growth, in line with the β=s/g Harrod-Domar-Solow formula. That is, for a given net saving rate s= 10%, the long run wealth …

wealth should do better than those with less wealth. We investigate this hypothesis using a unique datset from Norway …. Consistent with liquidity constraints being present, we find a strong positive relationship between founder prior wealth and … start-up size. The relationship between prior wealth and start-up performance, as measured by profitability on assets …

A democratic society in which the distribution of wealth is unequal elects political parties which tend to represent … of debt service and redistribute income from the rich to the poor. Consequently, inequality sows the seeds for inflation … inequality, for a cross-section of democratic countries. …

cycle, of several dimensions of economic inequality, including wages, labor earnings, income, consumption, and wealth. After … inequality, over the last three decades. While the trend in the skill premium differed widely across countries, the experience … premium rose and the gender premium fell virtually everywhere. At a higher frequency, earnings inequality appears to be …

1950, and back up to about 15% by 2010. A simple theoretical model of wealth accumulation, growth and inheritance can fully … wealth accumulation well above 100%. Our findings illustrate the fact that when the growth rate g is small, and when the rate … of return to private wealth r is permanently and substantially larger than the growth rate (say, r=4%-5% vs. g=1 …

This paper studies the role of detrended wealth in predicting stock returns. We call a transitory movement in wealth … we find that these trend deviations in wealth are strong predictors of both real stock returns and excess returns over a …. Why should wealth, detrended in this way, forecast asset returns? We show that a wide class of optimal models of consumer …

wealth elasticities of demand for a range of assets and liabilities. We test the frequently made assumption of constant …

reduce consumption inequality on impact. …

momentum to the income shares of households in the top 10 versus bottom 90 percent of the stock wealth distribution. We use a …, and show how the result can be explained if investors located in different percentiles of the wealth distribution exhibit …