We provide a systematic analysis of the properties of individual returns to wealth using twelve years of population … returns does not arise merely from differences in the allocation of wealth between safe and risky assets: returns are … heterogeneous even within narrow asset classes. Third, returns are positively correlated with wealth: moving from the 10th to the 90 …

We provide a systematic analysis of the properties of individual returns to wealth using twenty years of population … percentile. Second, heterogeneity in returns does not arise merely from differences in the allocation of wealth between safe and … risky assets: returns are heterogeneous even within asset classes. Third, returns are positively correlated with wealth …

We provide a systematic analysis of the properties of individual returns to wealth using twenty years of population … percentile. Second, heterogeneity in returns does not arise merely from differences in the allocation of wealth between safe and … risky assets: returns are heterogeneous even within asset classes. Third, returns are positively correlated with wealth …

proportionate revision in target wealth. We use panel data on the amount of wealth held for precautionary purposes available in the … permanent component of income, we find that households indeed revise approximately one-for-one their target wealth in response … permanent income is negatively correlated with the "wealth gap", particularly for individuals whose wealth is substantially …