aggregate importance of inherited wealth and its link to inequality of opportunity significantly increases the support for …

We propose a theory of indebted demand, capturing the idea that large debt burdens by households and governments lower … aggregate demand, and thus natural interest rates. At the core of the theory is the simple yet under-appreciated observation … a two-agent overlapping-generations model, we find that recent trends in income inequality and financial liberalization …

financial literacy and business ownership for the increase in wealth inequality between college and non-college households …

this return inequality? I study capital taxation in an economy in which return rates endogenously correlate with wealth … lower marginal tax rates. The endogeneity of returns generates an inequality multiplier effect between wealth and its …

Meritocratic beliefs are often invoked as justification of inequality. We provide evidence on how meritocratic beliefs … are shaped by economic status and how they contribute to the moral justification of inequality. In a large-scale survey …. Exploiting exogenous variation in meritocratic beliefs in a two-stage analysis shows that beliefs affect how much inequality …

Does parental wealth inequality impact next generation labor income inequality? And does a tax on parental wealth …