We provide a systematic analysis of the properties of individual returns to wealth using twelve years ofpopulation data … standard deviation of 8%). Second,heterogeneity in returns does not arise merely from differences in the allocation of wealth … with wealth: moving from the 10th to the 90th percentile of the financial wealth distributionincreases the return by 3 …

rich followed a similar pattern, the result of wealth effects associated with a boom-bust in asset prices. Indeed, the … top 10 percent account for almost half of income and two-thirds of wealth. In other words, the rich played a critical role …

exogenous variations in trade-weighted world income and international oil price shocks as instruments for within …

The US economy is often referred to as the “banker to the world,” due to its unique role in supplying global reserve … contribution of this role to rising wealth concentration among American households. I highlight the following points: 1) financial … globalization raises wealth inequality in a financially-developed economy initially due to foreign capital pressing up domestic …