This paper adds life-cycle features to a New Keynesian model and shows how this places financial wealth at the center …

-to-mouth households. One-asset models either feature a trade-off between a high average MPC and a realistic level of aggregate wealth, or … generate an excessively polarized wealth distribution that vastly understates the wealth held by households in the middle of …

Using administrative data on wealth, firm ownership structure, and migration in Sweden and Denmark, we document … international migration patterns among the very wealthy, their impact on the economy, and how they respond to wealth taxation. We … show that more than 20% of taxpayers liable to pay wealth tax are business-owners, and that the employment, investments …

non-degenerate consumption- and wealth distribution. We use the tractability of the model to study, analytically …

combine low inflation targets and high levels of wealth inequality …

A recent literature argues that persistent heterogeneity in wealth returns ("type dependence") as well as a positive … association with wealth levels ("scale dependence") play an important role for explaining features of the wealth distribution …, especially its extreme concentration at the top. In contrast, traditional models of wealth accumulation emphasize the role of …

Retirement in Europe (SHARE) to examine the wealth accumulation (saving) behavior of the retired elderly in Europe. To summarize … our main findings, we find that less than half of the retired elderly in Europe are decumulating their wealth and that the … average wealth accumulation rate of the retired elderly in Europe is positive though relatively moderate (6.6% over a 3-year …

economy. In the long run, increases in government debt anywhere raise the world interest rate and increase private wealth …

intergenerational wealth effects. Using panel data from school zones within a large U.S. school district, we find that higher local … quantify this housing wealth channel using an overlapping generations model with neighborhood choice, spatial equilibrium, and … endogenous school quality. Housing market shocks in the model generate large intra- and intergenerational wealth effects, with …