The last four decades have been marked by growing inequality. The inequality of income and wealth is one of the most important macroeconomic issues of our time. Inequality contributed to Global Savings Glut and Global Financial Crisis through riskiness channel and a greater propensity to borrow...

This paper analyzes the short-run dynamics and changing sources of wealth among the Forbes 400 list of the wealthiest individuals in the United States, using annual data for 12 years spanning before and after the financial crisis of 2008-9. Over the entire time period the growth of wealth was...

The topic of rising income inequality does not only gain in relevance since the two prominent reports by the OECD (Growing unequal? Income Distribution and Poverty in OECD Countries, Paris 2008; Divided we stand-Why inequality keeps rising, Paris 2011) but rather since the financial crisis. So far...