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Terrorism and international tourism: the case of Germany

Ahlfeldt, Gabriel M.; Franke, Bastian; Maennig, Wolfgang - London School of Economics (LSE) - 2015

We analyse how German tourists react to unanticipated shocks that alter their risk perception of selected tourism destinations. Using a difference-in-difference strategy which flexibly accounts for macroeconomic conditions and also addresses potential problems of serial correlation, we isolate...

Persistent link: https://www.econbiz.de/10011201253

Credit rationing, wealth inequality and allocation of talent

Ghatak, Maitreesh; Morelli, Massimo; Sjostrom, Tomas - London School of Economics (LSE) - 2002

We study an economy where agents are heterogeneous in terms of observable wealth and unobservable talent. Adverse … minimum wealth needed to obtain a separating contract is decreasing in the wage, whereas the minimum wealth needed for a …

Persistent link: https://www.econbiz.de/10010746194

Roads to equality: wealth distribution dynamics with public-private capital complementarity

Ferreira, Francisco H. G. - London School of Economics (LSE) - 1995

This paper proposes a model of wealth distribution dynamics with a capital market imperfection and a production …

Persistent link: https://www.econbiz.de/10010746233

Inherited vs self-made wealth: theory & evidence from a rentier society (Paris 1872-1937)

Postel-Vinay, Gilles; Piketty, Thomas; Rosenthal, … - London School of Economics (LSE) - 2011

This paper divides the population into two groups: the "inheritors" or "rentiers" (whose wealth is smaller than the … capitalized value of their inherited wealth, i.e. who consumed more than their labor income during their lifetime); and the … "savers" or "self-made men" (whose wealth is larger than the capitalized value of their inherited wealth, i.e. who consumed …

Persistent link: https://www.econbiz.de/10010746502

Imperfect capital markets and persistence of initial wealth inequalities

Piketty, Thomas - London School of Economics (LSE) - 1992

wealth and with a constant-returns-to-scale technology using capital and labour (called "effort") and displaying a purely … idiosyncratic risk. If effort is contractible, full insurance contracts make the production deterministic and initial wealth … increasing function of initial wealth so that in equilibrium poorer agents face tougher credit rationing and take smaller …

Persistent link: https://www.econbiz.de/10010746576

Wealth accumulation in Great Britain 1995-2005: the role of house prices and the life cycle

Bastagli, Francesca; Hills, John - London School of Economics (LSE) - 2012

This paper examines trends in the distribution of household wealth in Great Britain from 1995 to 2005 using the British … Household Panel Survey (BHPS). The data show that wealth is very unevenly distributed and reveal a widening absolute gap over … the period between wealthier households and those with no or negative wealth. However, in relative terms, wealth grew …

Persistent link: https://www.econbiz.de/10010884701

Inequality among the wealthy

Cowell, Frank - London School of Economics (LSE) - 2011

Using the evidence from the Luxembourg Wealth Study it appears that the distribution of wealth in the UK is … and of the wealth differential between the rich and the rest? Using a Pareto model for the upper tail of the distribution …

Persistent link: https://www.econbiz.de/10010745038

Estimates of the asset-effect: the search for a causal effect of assets on adult health and employment outcomes

McKnight, Abigail - London School of Economics (LSE) - 2011

In this paper we seek to determine the effect of assets held in early adult life on later outcomes. We specifically look at wages, employment prospects, general health and Malaise. The identification of an asset-effect throws up a number of statistical challenges as asset holding is not random....

Persistent link: https://www.econbiz.de/10010745695

Inheritance and the distribution of wealth

Cowell, Frank - London School of Economics (LSE) - 1998

The theory of functional equations is used to clarify the relationship between equilibrium distributions of wealth and …

Persistent link: https://www.econbiz.de/10010746547

The effect of parental wealth on children’s outcomes in early adulthood

Karagiannaki, Eleni - London School of Economics (LSE) - 2012

This paper presents the first UK estimates of the association between parental wealth during adolescence and a range of … children’s outcomes in early adulthood. Parental wealth is positively associated with all outcomes examined (which include … association reflects the indirect effect of parental wealth on children’s education whereas for homeownership the estimated …

Persistent link: https://www.econbiz.de/10010746617