wealth portfolios. We estimate the distribution of human wealth using nonparametric identification results that allow for … of permanent-income has grown much faster than the corresponding share of assets. Human wealth has a mitigating influence … on inequality, but this effect has waned over time due to the growing importance of assets in lifetime wealth portfolios …

of assets in lifetime wealth. Average expenditures and CE inequality roughly doubled between 1983 and 2016 and, to weigh …Through certainty equivalent consumption (CE) measures, we show that dispersion of current earnings, expenditures, and … human wealth. The latter mitigates permanent‐income inequality, though its influence is diminished by the growing importance …

last decades. In particular, greater financial deregulation, larger wealth accumulation, and better policies might have …