with the inheritance of employers that have different intergenerational earnings elasticities. The model also demonstrates … that the inheritance of employers plays a role in understanding observed nonlinearities …

inheritances have very little effect on the distribution of Total Inflows, suggesting that inheritance taxes may do little to …

This paper studies the relationship between income inequality and risk taking. Increased income inequality is likely to … take risks. Using a globally representative dataset on risk preference in 76 countries, we empirically document that the … distribution of income in a country has a positive and significant link with the preference for risk. This relationship is …

We develop a new approach to the decomposition of income risk within a nonstationary model of intertemporal choice. The … approach allows for changes in income risk over the life-cycle and with the business cycle. It requires only repeated cross … stochastic simulation of consumption choices in a nonstationarity environment is used to show the robustness of the method for …

consumption-saving model with labor income risk and incomplete markets to relate income dynamics to consumption and welfare, and …) welfare-neutral. A smaller part of measured income mobility is due to either welfare-reducing income risk or welfare …