entailing movements in factor returns and shares and the wealth-income ratio. Standard data on savings cannot be reconciled with … the increase in the wealth-income ratio: there is a wealth residual. An important component of this is associated with … “wealth” are distinct, we show that appropriately defined aggregates for wealth may be (and in the case of some countries …

Explaining why the concepts of "capital" and "wealth" are distinct, we show that appropriately defined aggregates for … wealth may be (and in the case of some countries appear to be) moving in opposite directions … entailing movements in factor returns and shares and the wealth-income ratio. Standard data on savings cannot be reconciled with …