(a standard deviation of 8%). Second, heterogeneity in returns does not arise merely from differences in the allocation … differences in risk exposure and assets scale, it also reflects persistent heterogeneity in sophistication and financial … implications of these findings for several strands of the wealth inequality debate. …

disbursements. We find a considerable degree of heterogeneity in MPCs, which varies by consumption good, and provide evidence on …

disbursements. We find a considerable degree of heterogeneity in MPCs, which varies by consumption good, and provide evidence on …

levels of wealth heterogeneity. In our overlapping generations model, heterogenous agents face uncertain lifetime and leave …

(a standard deviation of 8%). Second, heterogeneity in returns does not arise merely from differences in the allocation … differences in risk exposure and assets scale, it also reflects persistent heterogeneity in sophistication and financial … implications of these findings for several strands of the wealth inequality debate. …

different average returns on their net worth (a standard deviation of 8.6%) and on its components. Second, heterogeneity in … heterogeneity in sophistication and financial information, as well as entrepreneurial talent. Finally, wealth returns are correlated … across generations. We discuss the implications of these findings for several strands of the wealth inequality debate. …