This paper argues that an increase in the inequality of wealth prompts a stronger quest for status that in turn fosters the accumulation of wealth. It proposes a measure for an individual's want of social status. For a given level of a population's wealth, the corresponding aggregate measure of...

The distributions of income and wealth in countries across the world are found to possess some robust and stable features independent of the specific economic, social and political conditions of the countries. We discuss a few physics-inspired multi-agent dynamic models along with their...

The distributions of income and wealth in countries across the world are found to possess some robust and stable features independent of the specific economic, social and political conditions of the countries. We discuss a few physics-inspired multi-agent dynamic models along with their...

Die vorliegende Studie untersucht drei Aspekte der Wohlstandsverteilung in Deutschland: Die Verteilung der Grundvermögen, der Geldvermögen und der Einkommen. Der Schwerpunkt liegt auf der Analyse der Verteilung der Grundvermögen und der Geldvermögen. Hier werden zentrale neue Erkenntnisse...

This paper extends the VECM cointegration model and PT (permanent-transitory) variance decomposition framework proposed by Lettau & Ludvigson (2004) and applies them on the Swedish data spanning from 1980q1 to 2004q4. There are strong statistical evidences that the movements of aggregate...

We construct and derive the properties of an estimator of welfarewhich takes advantage of the detailed nature of information about living standards available in small household surveys and the comprehensive coverage of a census. By combining the strengths of each, our estimator can be used at a...