declines in housing wealth, but who were employed at the same firm and lived in the same area at the onset of the 2008 crisis …. We find that, following a negative wealth shock, innovative workers become less productive, and generate lower economic …

This essay is a reflection on debt. Debt seems to be the flip side of wealth; that is, not having enough. And yet I … that disturbs and what one might call socially sanctioned debt? How is it that some forms of wealth are socially sanctioned …

declines in housing wealth, but who were employed at the same firm and lived in the same area at the onset of the 2008 crisis …. We find that, following a negative wealth shock, innovative workers become less productive, and generate lower economic …

Comparative static effects of varying the wealth level of risk averse agent in a moral hazard setting with limited … liability constraints are investigated. There are two principal opposing effects of increasing wealth: the incentive effect … levels are initially constant, subsequently increasing and eventually decreasing in wealth. Hence agents with intermediate …