comprehensive study of wealth and its distribution in Germany since the 19th century. We combine tax and archival data, household … insights into the role of country-specific shocks in shaping long-run wealth dynamics. This paper presents the first … surveys, historical national accounts, and rich lists to analyze the evolution of the German wealth distribution over the long …

large shocks to capital coming from wars or progressive taxation. Instead, institutions that promote household wealth …This paper analyzes new evidence on long-run trends in aggregate wealth accumulation and wealth inequality in Western … countries. The new findings suggest that wealth-income ratios were lower before World War I than previously claimed, that wealth …

distributions of health and wealth, leading to differences in the ability to mitigate future income shocks. We study consumption … health and wealth are jointly determined under income and health risk that are related to disease outbreak risk. We calibrate … in wealth and health, implying persistent increases in wealth inequality that are characterised by increases in wealth …

well as at all levels of net wealth at a point in time. Gifts and inheritances are only an important source of income flows … extreme wealth inequality in society …

lead to indebted household demand, pushing down natural interest rates. Moreover, popular expansionary policies—such as …

Using new long-run microdata, this paper studies wealth and income trends of college and non-college households in the … United States since 1956. We document the emergence of a substantial college wealth premium since the 1980s, which is … considerably larger than the college income premium. Over the past four decades, the wealth of American households with a college …

Incomplete markets models imply heterogeneous household savings behaviour which in turn generates pecuniary … externalities via the interest rate. Conditional on differences in the processes determining household earnings for distinct groups … increase wealth inequality between the groups and within the group of the non-university educated households. We further find …

income, consumption and wealth and implies a substantial loss in individual welfare compared to the allocation under full … assets across individuals, and is thereby a quantitatively important driver of inequality in wealth …

We study a small open economy displaying Pareto-distributed wealth resulting from random death. The government runs a … with ordinary differential equations for the mean of age and of individual and government wealth. We also study … distributional dynamics analytically. Starting from any distribution of age and wealth, the aggregate distribution converges, both on …