Using the 2006 and 2010 Health and Retirement Study, we explore how the recent recession impacted the wealth holding … household asset ownership, asset wealth and household retirement behavior varied with the nativity of the household and its … standing in the wealth distribution prior to the onset of the recession. We find that the so-called Great Recession made a …

equilibrium framework with heterogeneous agents and a fiscal structure resembling the actual U.S. tax system. The wealth and … marginal tax rate decreases inequality in both wealth and income but also leads to a contraction of the aggregate economy. This …