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Sovereign wealth funds, as an active participant in the global capital market, have attracted increasingly more attention from both academicians and practitioners. The opacity of the funds is on...
In 1935, the National Bureau of Economic Research invited a consortium of universities to join with it in establishing a “program of cooperative research” in the area of economic measurement. The Co...
We examine equilibria in competitive insurance markets with adverse selection when wealth differences arise endogenously from unobservable savings or labor supply decisions. The endogeneity of wealth ...
This paper studies the business cycle dynamics of income and wealth distributions in the context of the neoclassical growth model where agents are heterogeneous in initial wealth and non-acquired skil...
Policy analysts and policy makers are keenly interested in whether the performance of national economies is consistent with some notion of “sustainability.” This reflects growing concerns about enviro...
The June 2012 issue of Environment and Development Economics published a symposium with considerable focus on our paper, ‘Sustainability and the measurement of wealth’. The Symposium also contained fi...
In this article we use an original data set to provide the first empirical analysis of the political economy of inherited wealth taxation that covers a significant number of countries and a long time ...
Golden parachutes (GPs) have attracted substantial attention from investors and public officials for more than two decades. We find that GPs are associated with higher expected acquisition premiums an...
This working paper integrates the role of entrepreneurship and firms into debates on why Asia, Latin America and Africa were slow to catch up with the West following the Industrial Revolution and the ...
For a couple of generations of Americans growing up after the Great Depression and World War II, it seemed normal that the middle class would command a stable share of a growing economic state: The sl...
Health and wealth are the two most important components of well-being. Rankings of wellbeing based on income will differ from more comprehensive rankings, depending on the way that income and health a...
We show, analytically and numerically, that wealth distribution in the Bouchaud-Mezard network model of the economy is described by a three-parameter generalized inverse gamma distribution. In the mea...
Yard-Sale (YS) is a stochastic multiplicative wealth-exchange model with two phases: a stable one where wealth is shared, and an unstable one where wealth condenses onto one agent. YS is here studied ...
The article summarizes the details of the Earned Income Tax Credit (EITC) and describes the population of EITC recipients in the U.S. It explores the usability of the data from the Survey of Consumer ...

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