Why are some people wealthy while others are poor? To what extent can governments affect
inequality? Which instruments should they use? Answering these questions requires …

Entrepreneurship and Financial Frictions: A Macrodevelopment Perspective | Annual Reviews
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We provide a systematic analysis of the properties of individual returns to wealth using 12
years of population data from Norway's administrative tax records. We document a number …

This paper discusses the progressive taxation of household wealth. We first discuss what
wealth is, how it is distributed, and how much revenue a progressive wealth tax could …

This paper constructs and calibrates a parsimonious model of occupational choice that
allows for entrepreneurial entry, exit, and investment decisions in the presence of borrowing …

Invariably, across a cross-section of countries and time periods, wealth distributions are
skewed to the right displaying thick upper tails, that is, large and slowly declining top wealth …

The distribution of wealth in most countries for which there is reliable data is strikingly
uneven. There is also recent work suggesting that the wealth distribution has undergone …

We study the dynamics of the distribution of wealth in an overlap** generation economy
with finitely lived agents and intergenerational transmission of wealth. Financial markets are …

Macroeconomics at the intermediate and graduate levels rests on three workhorses: the
Solow-Swan model, the overlap** generations (OLG) model, and the Ramsey model. The …

Rising inequality in the permanent component of labor income, henceforth permanent
income, has been a major force behind the secular increase in US labor income inequality …