We study trends and drivers of long-run stock market growth in 17 advanced economies.
Between 1870 and the 1980s, stock market capitalization grew in line with GDP. But over …

According to data from the Survey of Consumer Finances (SCF), average wealth of Black
households equals only 15% of average wealth of White households. In response to such a …

We study the effect of interest rates on wealth inequality. While lower rates decrease the
growth rate of rentiers, they also increase the growth rate of entrepreneurs by making it …

Rising within-country differences in house values are a much-debated trend in the United
States and internationally. Using new long-run regional data for 15 advanced economies …

We study long-term returns on residential real estate in 27" superstar" cities in 15 countries
over 150 years. We find that total returns in superstar cities are close to 100 basis points …

We study the effect of interest rates on top wealth inequality. While lower rates decrease the
average growth rate of existing fortunes, they increase the growth rate of new fortunes by …

Population aging has been linked to a global savings glut and a decline in safe real interest
rates. Conversely, risky real returns have not fallen as much, if at all, with equity risk premia …

Skattningar tyder på att den globala, reala (riskfria) jämviktsräntan sedan år 1990 sjunkit
med mellan 1, 5 och drygt 3 procentenheter, till en nivå nära noll. Forskningslitteraturen har …

The emergence of cryptocurrencies, as well as global commodity price volatility, have
affected the global stock market performance. The recent pandemic outbreak has …

This chapter examines the credit risk premiums of 131 European companies as the
difference between their CDS spreads and expected losses. The period between September …