We analyze how the wealth of an agent and its distribution affect the profit of the principal by considering the simple … change in risk aversion because of an increase in wealth. The second result is that the profit function of the principal is … concave in wealth, which presents an implication that the principal prefers a group of agents with low wealth inequality over …

In this paper, we present updated measures of racial disparities in wealth using the most recent data from the Survey … of Consumer Finances (SCF), augmented by household-level estimates of defined benefit (DB) pension wealth developed by … Sabelhaus and Volz (2020). Including this important asset, we find that racial wealth disparities are smaller than the numbers …

Wealth is distributed more unevenly than income, and one contributing factor might be that richer households earn … higher portfolio returns. I uncover one channel that causes portfolio returns to be increasing in wealth: Poorer households … engage in such cyclical trading patterns. I estimate the trading patterns for households across wealth levels, in the US …

This paper analyzes the short-run dynamics and changing sources of wealth among the Forbes 400 list of the wealthiest … entire time period the growth of wealth was negatively related to the previous years' wealth, implying a slight degree of … wealth convergence within the group. We find that the overall growth of the group's wealth slowed after the crisis but stayed …

The wealthy hand-to-mouth are households who are poor in liquid wealth (e.g., cash and checking accounts) and rich in … illiquid wealth (e.g., housing and retirement accounts), while the poor hand-to-mouth are poor in both wealth. Data from the … the majority of the hand-to-mouth households in China. Second, they have different wealth portfolios and demographic …

We demonstrate that increased automation has a significant negative impact on distribution of wealth. Households who … are more exposed to industrial robots at work accumulate less wealth and experience greater downward mobility in the … wealth distribution. The negative wealth effects of robots are not merely a consequence of differences in earned incomes or …

Sharp declines in wealth-concentration occurred across Europe and the US during the 20th century. But this stylized … fact is based on declared wealth. It is possible that today the richest are not less rich but rather that they are hiding … much of their wealth. This paper proposes a method to measure this hidden wealth, in any form. In England, 1920 …

We reconcile the large and persistent racial wealth gap with the smaller racial earnings gap, using a general … equilibrium heterogeneous-agents model that matches racial differences in earnings, wealth, bequests, and returns to savings …. Given initial racial wealth inequality in 1962, our model attributes the slow convergence of the racial wealth gap primarily …

Our purpose is to analyze the degree of concentration of household wealth in Mexico during a period of intense economic …

wealth across euro area countries that await explanation. This paper focuses on three main factors for the wealth … three factors, in addition to the common household and demographic factors, are relevant for the net wealth accumulation … particular in homeownership rates and house price dynamics, are important for explaining wealth differences across euro area …