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 …

While in the data wealth is concentrated in the hands of a small number of rich people and
the saving rate of the rich is high, many models used for quantitative policy evaluation fail to …

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 …

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 goal of this chapter is to study how, and by how much, household income, wealth, and
preference heterogeneity amplify and propagate a macroeconomic shock. We focus on the …

We quantitatively identify the factors that drive wealth dynamics in the United States and are
consistent with its skewed cross-sectional distribution and with social mobility. We …

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 …

We show that genetic endowments linked to educational attainment strongly and robustly
predict wealth at retirement. The estimated relationship is not fully explained by flexibly …

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

Over the last 50 years the US tax system went through a striking transformation that reduced
the effective tax rates for top income groups and raised transfers to seniors. This paper …