(a standard deviation of 8%). Second, heterogeneity in returns does not arise merely from differences in the allocation … differences in risk exposure and assets scale, it also reflects persistent heterogeneity in sophistication and financial … implications of these findings for several strands of the wealth inequality debate. …

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

a two-agent overlapping-generations model, we find that recent trends in income inequality and financial liberalization … those reducing the structural sources of high inequality. …

among the wealthy, while owner-occupied housing is crucial for middle groups, so higher stock prices raise wealth inequality … while house price increases do the opposite. Inheritances exacerbate absolute wealth inequality but reduce rel …-ative inequality. Wealth inequality declined in advanced Western countries during the first half of the 20th century, then stabilized …

We study beliefs about wealth inequality and preferences for wealth redistribution. For this, we conduct a large … overestimate their position reduce their aversion to inequality after learning their position, while those who underestimate their … further investigate heterogeneity in treatment effects and present evidence that younger participants decrease their support …

of inequality and the income level in an economy. First, present-biased envy generates the Matthew effect (the relatively …