WEALTH INEQUALITY: DATA AND MODELS

By M. Cagetti, Mariacristina De Nardi. Macroeconomic Dynamics, 2005

242 citations recorded by the source corpus.

In the United States wealth is highly concentrated and very unequally distributed: the richest 1% hold one third of the total wealth in the economy. Understanding the determinants of wealth inequality is a challenge for many economic models. We summarize some key facts about the wealth distribution and what economic models have been able to explain so far.

Subfields: Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/ca7b25fd1c67408b753734a0f1a3676940d0c203

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

Citations in the corpus

How Fat is the Top Tail of the Wealth Distribution? (2018, unknown): “Absolute number Pct of sample Sample size > 2 million > 1 million > 500TH > 2 million > 1 million > 500TH (1) (2) (3) (4) (5) (6) (7) USA 6482 965 1259 1692 0.”
Entrepreneurship, Frictions, and Wealth (2006, background): “(See Cagetti and De Nardi [12] for a comprehensive survey.”
On the Long-Run Evolution of Inheritance: France 1820–2050 (2011, background): “Wolff and Zacharias (2009) attempt to combine income and wealth data from the SCF to obtain more comprehensive measures of top capital income flows in the United States during the 1980s–1990s. As they rightly point out, it is not so much that the “working rich” have replaced “coupon-clipping rentier”
Skewed Wealth Distributions: Theory and Empirics (2018, unknown): “Case and Shiller (1989) document a large standard deviation, of the order of 15%, of yearly capital gains or losses on owner-occupied housing. Similarly, Flavin and Yamashita (2002) measure the standard deviation of the return on housing, at the level of individual houses, from the 1968-92 waves of ”
Saving and Wealth Inequality (2017, unknown): “Key facts about the distribution of wealth have been highlighted in a large number of studies, including Wolff (1992, 1998), Davies and Shorrocks (2000), Kennickell (2003), Cagetti and De Nardi (2008), and Kuhn and Ŕıos-Rull (2015).”