We present the first estimates of intergenerational wealth correlation for Australia, using HILDA. The rank correlation … varies greatly by child age when wealth is observed, from 0.1 before age 30, to 0.5 after age 40. Most children in our … estimation sample are young. For these children overall, the estimate is 0.253. Our comparable estimate for the USA is 0 …

We calibrate a sequence of four nested models to study the dynamics of wealth accumulation. Individuals maximize a … utility function whose arguments are consumption and investment. They desire to accumulate wealth for its own sake - this is …