features that policy makers are worried about: business investment, borrowing constraints, estate transmission, and wealth …

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. …

Because financial transactions are important for wealth accumulation, and rely on trust and confidence in institutions …

Because financial transactions are important for wealth accumulation, and rely on trust and confidence in institutions …

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 …

Entrepreneurship is a key determinant of investment, saving, and wealth inequality. We study the aggregate and … distributional effects of several tax reforms in a model that recognizes this key role and that matches the large wealth inequality … estate tax would generate a modest increase in wealth inequality and slightly reduce aggregate output. Decreasing the …