We study the link between individual skills, education, and wealth inequality through the
channel of financial investment decisions. We present a simple model of individuals with …

Using individual-level data from the Survey on Household Income and Wealth (SHIW), we
estimate the extra-returns to wealth earned by highly educated individuals (education …

Based on a theory of portfolio choice with non-tradable assets, we estimate hedging
demands due to background risks before and after the Great Recession for US households …

Important portfolio choice decisions are made for large groups of heterogeneous individual
investors. I propose solving the cross-sectional average of the individual Euler equations to …

We study the link between individual skills, education, and wealth inequality through the
channel of financial investment decisions, both empirically and theoretically. We provide …

Based on a theory of portfolio choice with non‐tradable assets, we estimate hedging
demands due to background risks before and after the Great Recession for US households …