cycle, of several dimensions of economic inequality, including wages, labor earnings, income, consumption, and wealth. After …

This paper examines the importance of ex-ante heterogeneity for understanding the relationship between wealth and labor … distribution of employment, wages, and wealth observed in the data. Importantly, it reverses the prediction that employment falls … with wealth, a pervasive feature of models without ex-ante heterogeneity. A byproduct of the model's empirical performance …

In this paper I present an explanation to the fact that in the data wealth is substantially more concentrated than …-yield assets as the level of net worth increases, I first use data on historical asset returns and portfolio composition by wealth … plausible difference between the return faced by poor and wealthy agents is able to generate a substantial increase in wealth …

business affects the household's saving behavior and the implication of this behavior for the distribution of wealth and … movement of families across wealth classes over time. First, a number of stylized facts based on data from the Panel Study of … Income Dynamics and the Survey of Consumer Finances are outlined. They show relevant differences in asset holdings and wealth …