empirical strategy is to determine whether an individual's wealth affects the probability of becoming an entrepreneur, and the … size of the inheritance has a substantial effect on the probability of becoming an entrepreneur, and that conditional on … becoming an entrepreneur, the size of the inheritance has a statistically significant and quantitatively important effect on …

extreme wealth inequality in society … inequality. This paper uses a 19-year panel of administrative data for the population of Norway to examine the share of the Total … well as at all levels of net wealth at a point in time. Gifts and inheritances are only an important source of income flows …

. We disentangle, roughly, the contribution of inheritance, age and stochastic rates of capital return to wealth inequality …We present a mechanism to analytically generate a double Pareto distribution of wealth in a continuous time OLG model …, in particular to the Gini coefficient. We investigate the role of the fiscal and redistributive policies for wealth …

Using Danish administrative data, we estimate the impact of bequests on the level and inequality of wealth. We employ …. We find that bequests increase measures of absolute wealth inequality (variance), but reduce relative inequality (top … an event study design where we follow the distribution of wealth over time of people who are 45-50 years old, and divide …

sources of household wealth has had a sizeable effect on reducing the inequality of wealth … wealth transfer and these accounted for about a quarter of their net worth. Over the lifetime, about 30 percent of households … could expect to receive a wealth transfer and these would account for close to 40 percent of their net worth near time of …

Countries in which billionaire heirs' wealth is large relative to G.D.P. grow more slowly, show signs of more political … in which self-made entrepreneur billionaire wealth is large relative to G.D.P. grow more rapidly and show fewer signs of …

an entrepreneurial sector, the paper investigates the effects of taxes on the equilibrium level of entrepreneurship and …, progressive taxation as well as investment and output subsidies to the entrepreneurial sector …

firms (entrepreneurship) and the average quality of management (meritocracy). Legal reform also reduces financial … improve meritocracy at the expense of entrepreneurship. As a result, legal reform encounters less political opposition than …

Recent writings on China's water situation often portray China's water problems as severe and suggest that water … availability could threaten the sustainability of China's future growth. However, China's high growth of the last 20 years or more … accounting approach to investigate both the contribution played in the past by water availability in constraining China's growth …

Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist … introduces the chapters comprising the NBER volume Capitalizing China (Fan and Morck, eds. 2012), which examine China's high … consider policy alternatives the CCP might consider if its goal is China's elevation into the ranks of high income countries …