How much wealth has accumulated in the region and how is it distributed across households? Despite being widely recognized for its extreme income inequality, reliable data on wealth is scarce, partial and oftentimes contradictory, making it difficult to an swer these ba sic qu estions. In this...

"Entrepreneurship is a key determinant of investment, saving, and wealth inequality. We study the aggregate and distributional effects of several tax reforms in a model that recognizes this key role and that matches the large wealth inequality observed in the U.S. data. The aggregate effects of...

This research examines the economic origins of Islam and uncovers two empirical regularities. First, Muslim countries, virtual countries and ethnic groups, exhibit highly unequal regional agricultural endowments. Second, Muslim adherence is systematically larger along the pre-Islamic trade...

The informal sector is an extensive phenomenon in developing countries. While some of its implications have drawn considerable attention in the literature, one relatively unexplored aspect has to do with the saving patterns of workers and firms and how these might influence aggregate savings and...

Volunteering is a dominant social force that signals a healthy state. However, although the literature on volunteering is extensive, knowledge on how life’s discontinuities (life event shocks) affect volunteering is limited because most studies work with static (cross-sectional) data. To...