to those that would have been selected from a past frame, and that the increased variability of wealth estimates is …

Well known research based on capitalized income tax data shows robust growth in wealth concentration in the late 2000s …. We show that these robust growth estimates rely on an assumption---homogeneous rates of return across the wealth … interest-bearing assets), wealth concentration estimates in 2011 fall from 40.5% to 33.9%. These estimates are consistent in …