We study the effects of liquidity constraints and start-up costs on the relationship between wealth and the fraction of … entrepreneurs in an economy. We develop a dynamic occupational choice model with endogenous wealth and entry into entrepreneurship … function of individual wealth while the introduction of start-up costs tends to flatten this relationship. The theoretical …

-human wealth effect vs. the years-to-consume effect. Finally, using US and Swedish data for cohorts born between 1890 and 2000, we …

We study the role of parental wealth for children's educational and occupational outcomes across three types of welfare … states and outline a theoretical model that assumes parental wealth to impact offspring's attainment through two mechanisms …, wealth’s purchasing function and its insurance function. We argue that welfare states can limit the purchasing function of …

Sweden and the United States over the past decade. We show that wealth inequality has been significantly greater in the U …Given differences in public saving programs between Sweden and the United States, an examination of household private … wealth accumulation in these two countries can be enlightening. In this paper we examine wealth inequality and mobility in …

Sweden and the United States over the past decade. We show that wealth inequality has been significantly greater in the U …Given differences in public saving programs between Sweden and the United States, an examination of household private … wealth accumulation in these two countries can be enlightening. In this paper we examine wealth inequality and mobility in …