the model matches the rise in urban China’s wealth inequality since 1995 almost exactly. We further quantify the relative …We propose a quantitative theory of wealth creation and distribution during China's transitional growth from the early … wealth, whereas the majority working class, partly due to limited investment available from an underdeveloped financial …

We quantify the size and tax-responsiveness of financial transfers made to heirs before death. The wealth of singles … to children, while long-term care copayments can explain the remainder. Tax-reducing transfers are made across the wealth …

Although older generations have substantially more wealth than their recent predecessors did at the same age, younger … circumstances can rationalise slowing generation-on-generation wealth growth. I find no evidence that later-born generations are less … predicted to have higher consumption, despite accumulating no greater wealth, than their predecessors because their earnings are …