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

While inequality of opportunity (IOp) in earnings is well studied, the literature on IOp in individual net wealth is … wealth and income distribution can significantly diverge. We measure ex-ante IOp in net wealth for Germany using data from … wealth before effort is exerted. The SOEP allows for a direct mapping from individual circumstances to individual net wealth …