Current trends in the distribution of wealth trigger a social divide and threaten democracy. I propose to counter this … requires two novel institutions: a socially responsible Sovereign Wealth Fund and a Federal Shareholder. This paper offers an …

Finances. The household-level data allow us to study the joint distributions of household income and wealth since 1949. We … expose the central importance of portfolio composition and asset prices for wealth dynamics in postwar America. Asset prices … shift the wealth distribution because the composition and leverage of household portfolios differ systematically along the …

Using detailed tax data from the Swiss canton of Bern, I examine how changes in wealth are related to income risk. I … find that only among elderly individuals high kurtosis of income risk may be positively correlated with wealth accumulation …. Additionally, I document that a substantial share of taxpayers have negative net wealth. While wealth and income are positively …

relevant waves of the Health and Retirement Study (1996-2010), we exploit the exogenous variation in the form of wealth shocks … resulting from the value of housing assets, to examine the effect of wealth on use of home health, unpaid help and nursing home … not affected by the housing wealth changes. The findings suggest that a wealth shock exerts a positive and significant …

This paper studies the heterogeneity of the marginal propensity to consume out of wealth based on French household … surveys. This heterogeneity is driven by differences in both wealth composition and wealth levels. We find a decreasing … marginal propensity to consume out of wealth across the wealth distribution for all net wealth components. The marginal …

The Carnegie effect (Holtz-Eakin, Joualfaian and Rosen, 1993) refers to the idea that inherited wealth harms recipients …

The role of inherited wealth in modern economies has increasingly become under scrutiny. This study presents one of the … share of total wealth in a given economy. Thus, aging is not likely to explain a recent surge in this share in some advanced …

time — total returns to the largest, but oft ignored, component of household wealth, housing. The annual data on total …