well as at all levels of net wealth at a point in time. Gifts and inheritances are only an important source of income flows … extreme wealth inequality in society …

an open question about how much the elasticity varies with wealth. We find a much lower consumption response for high …-liquidity households, which may help discipline structural models. We then use this instrument to study how wealth shapes racial inequality …. An extensive body of work documents a substantial racial wealth gap. However, less is known about how this gap translates …

Is the top tail of wealth a set of fixed individuals or is there substantial turnover? We estimate upper-tail wealth … dynamics during the Gilded Age and beyond, a time of rapid wealth accumulation and concentration in the late 19th and early 20 …th centuries. Using various wealth proxies and data tracking tens of millions of individuals, we find that most extremely …

This paper presents new homogeneous series on top wealth shares from 1916 to 2000 in the United States using estate tax … return data. Top wealth shares were very high at the beginning of the period but have been hit sharply by the Great … wealth shares recovered in the early 1980s, but they are still much lower in 2000 than in the early decades of the century …

Recent estimates of US top wealth shares obtained by capitalizing income tax returns (Saez and Zucman, 2020; Smith … Exchange Commission data at the shareholder firm level show that billionaires' equity wealth is underestimated by a factor of 2 … undervalued by a factor of 1.2 and top-owned partnerships by up to 2.2. After incorporating these results, the top 0.01% wealth …

I use the Survey of Consumer Finances (SCF) to analyze wealth trends from 1983 to 2013. Asset prices plunged between … 2007 and 2010 but then rebounded from 2010 to 2013. Median wealth plummeted by 44 percent over years 2007 to 2010 and … wealth inequality was up sharply. These two movements can be traced to the high leverage of middle class families, the high …

I discuss available evidence about the evolution of top wealth shares in the United States over the last one hundred … increase in wealth concentration and the other two methods showing at best a small increase. I discuss strengths and weaknesses … incomes and the increased importance of self-made wealth may explain difficulties in implementing each of the methods and …

median wealth plummeted by 44 percent over years 2007 to 2010, almost double the drop in housing prices. The inequality of … indebtedness. The sharp fall in median net worth and the rise in overall wealth inequality over these years are traceable primarily … disparity in wealth also widened considerably. Households under age 45 saw their relative and absolute wealth declined sharply …

In this paper, we attempt to explain differences between the US and UK household wealth distributions, with an emphasis … wealth, British households hold relatively small amounts of financial assets - including equities in stock - compared to … fraction of their household wealth is concentrated in houseing. Finally, the age gradient in home equity appears to be much …

Equity in housing is a major component of household wealth in the United States. Steady gains in housing prices over … the last several decades have generated large potential gains in household wealth among homeowners. Mankiw and Weil (1989 …