Because financial transactions are important for wealth accumulation, and rely on trust and confidence in institutions … differences in education, income, and geographic location. For a given immigrant, the likelihood of financial market participation …

the differences in life expectancy related to observable factors such as health, gender, and income have large effects on …

features that policy makers are worried about: business investment, borrowing constraints, estate transmission, and wealth … revenue shortfall were financed through increased income or consumption taxation, the immensely rich, and the old among those …

with several problems in measuring wealth. While many respondents report owning assets and liabilities, they often do not … calculate household wealth for the whole sample. We examine household wealth holdings by considering several measures of … families own. Overall, there is much heterogeneity in wealth holdings not only across but also within demographic groups. This …

In the United States wealth is highly concentrated and very unequally distributed: the richest 1% hold one third of the … total wealth in the economy. Understanding the determinants of wealth inequality is a challenge for many economic models. We … summarize some key facts about the wealth distribution and what economic models have been able to explain so far. …

-negativity constraint on assets. Using data from the Panel Study of Income Dynamics, I estimate life cycle profiles for labor force …

Because financial transactions are important for wealth accumulation, and rely on trust and confidence in institutions … differences in education, income, and geographic location. For a given immigrant, the likelihood of financial market participation …

of these constraints on aggregate capital accumulation and wealth inequality are less known. Entrepreneurship is an … important determinant of capital accumulation and wealth concentration and, conversely, the distribution of wealth affects … entrepreneurial choices in presence of borrowing constraints. We construct a model that matches wealth inequality very well, for both …

provide structural and reduced form evidence that the dominant source of credit market imperfections varies with wealth. For … poorer households limited commit-ment is the dominant concern. However, as wealth increases moral hazard gains importance …