This paper proposes a model of wealth distribution dynamics with a capital market imperfection and a production … inequality of opportunity, as well as to greater output. This provides an additional rationale for an active role for the …

and household wealth holdings. We find that overall disabled people have substantially lower household wealth and all … disadvantage in terms of income than their counterparts. What is less well understood is how they fare in terms of their wealth … components of wealth (property, financial, pension, physical) than non-disabled people but even these average differences mask …

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 …

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 …

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 …

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 …

Using the evidence from the Luxembourg Wealth Study it appears that the distribution of wealth in the UK is … considerably less than in Canada, the US or Sweden. But does this result come from an underestimate of inequality among the wealthy … and of the wealth differential between the rich and the rest? Using a Pareto model for the upper tail of the distribution …

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