Cagetti, Marco; Nardi, Mariacristina De - Federal Reserve Bank of Minneapolis - 2004
inequality and slightly reduce aggregate output. Decreasing progressivity of the income tax can generate large increases in …Entrepreneurship is a key determinant of investment, saving, wealth holdings, and wealth inequality. We study the … entrepreneurs, and that matches very well the extreme degree of wealth inequality observed in the U.S. data. We find that the …