-generations asset pricing model. The model predicts that as more individuals reach the age when the increment to their wealth reaches … the Surveys of Consumer Finances indicates that individuals aged 45 to 54 have the largest increment to wealth of all age … group. Time series estimates confirm that a close link exists between aggregate household wealth and the size of this age …

demography in determining the current account balance. The estimated demographic effect on the current account balance exceeds …

of these constraints on aggregate capital accumulation and wealth inequality are less known. Entrepreneurship is an … important determinant of capital accumulation and wealth concentration and, conversely, the distribution of wealth affects … entrepreneurial choices in the presence of borrowing constraints. We construct a model that matches wealth inequality very well, for …

correlation between wealth and the saving rate over a longer time span. In this paper, we combine household-level data from the …, econometric analysis of these data produces propensities to consume out of wealth in the range of typical estimates obtained from … aggregate data. Taken together, our results corroborate a direct view of the wealth effect on consumption. …

with several problems in measuring wealth. While many respondents report owning assets and liabilities, they often do not … calculate household wealth for the whole sample. We examine household wealth holdings by considering several measures of … families own. Overall, there is much heterogeneity in wealth holdings not only across but also within demographic groups. This …