The recent literature has argued for high concentration of earnings, differences in rates of return on assets and bequests as potential determinants of the high level of wealth concentration in the US. Analyzing the joint distribution of earnings, capital income and net worth, we find evidence...

Why do some people become entrepreneurs (and others don't)? Why are firms so heterogeneous, and many firms so small? To start, the paper briefly documents evidence from the empirical literature that the relationship between entrepreneurship and education is U-shaped, that many entrepreneurs...

"Entrepreneurs out of necessity" identified by the Global Entrepreneurship Monitor survey are a sizeable group across countries. They tend to have low education, run smaller firms, expect their firms to grow less, but are likely to stay in the market. This evidence is a challenge for existing...