Wealth is distributed more unevenly than income, and one contributing factor might be that richer households earn … higher portfolio returns. I uncover one channel that causes portfolio returns to be increasing in wealth: Poorer households … engage in such cyclical trading patterns. I estimate the trading patterns for households across wealth levels, in the US …

We document the empirical fact that asset prices in the consumption-goods and investment-goods sector behave almost …

how fluctuations in individual crypto wealth affect household consumption, equity investment, and local real estate … wealth causes house price appreciation--counties with higher crypto wealth see higher growth in home values following high … consumption and investment into other asset classes …

substantially lower coefficient of risk aversion. We also find renewed support for rule-of-thumb investment strategies under the …

, earn higher portfolio returns, and ultimately accumulate higher levels of wealth later in life. Underlying these effects … business educated individuals to acquire and process economic information and make informed investment decisions. Early …' life-cycle wealth profiles. …