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 …

Retired households, especially those with high lifetime income, decumulate their wealth very slowly, and many die … home. We discuss the empirical strategies used to differentiate these motivations, most of which go beyond wealth to …

Retired households, especially those with high lifetime income, decumulate their wealth very slowly, and many die … home. We discuss the empirical strategies used to differentiate these motivations, most of which go beyond wealth to …

Using data from the Survey of Consumer Finances, this paper updates and extends previous research on the racial wealth … gap in the United States. We explore several hypotheses that help explain differential wealth accumulation by racial … to the literature. We find that observable factors account for the entire wealth gap between white and Hispanic families …