the model matches the rise in urban China’s wealth inequality since 1995 almost exactly. We further quantify the relative …We propose a quantitative theory of wealth creation and distribution during China's transitional growth from the early … wealth, whereas the majority working class, partly due to limited investment available from an underdeveloped financial …

. This paper studies the role of endogenous owner hours in shaping the wealth distribution among entrepreneurs. We introduce … levels and the dispersion of wealth among entrepreneurs. Long owner hours incentivize poor, highly productive individuals to …US entrepreneurs typically work long hours in their firms and these hours form a large part of the firms' labor input …

entrepreneurs facing uninsurable idiosyncratic risks. Under greater wealth concentration, households in the lower end of the wealth … heterogeneous risk averse entrepreneurs competing to catch up with firms. This model is unique in that both household wealth …This paper examines the effect of wealth concentration on firms' market power when firm entry is driven by …

I develop a dynamic model of forward-looking entrepreneurs, who decide whether to operate in the formal economy or … main focus of the paper is on transitional dynamics under different initial wealth levels. Whether an initially small …-developed countries (LDCs) - induce tax avoidance, discourage investment in formal businesses, and drive the entrepreneurial activity …

economic development. Although contemporary inequality is much lower than early 20th-century figures, the 'real' wealth of …Despite its relevance in 19th-century economics, wealth -its accumulation, composition, and distribution- has largely …, Italy presented a historically high value of total private wealth but had relatively small relevance in total bequests flows …