We found that on average over the period from 1989 to 2007, 21 percent of American households at a given point of time received a wealth transfer and these accounted for 23 percent of their net worth. Over the lifetime, about 30 percent of households could expect to receive a wealth transfer and...

"I speculate that technological spillover effects may have become more important over time as IT penetrated the U.S. economy. The rationale is that IT may speed up the process of knowledge transfer and make these knowledge spillovers more effective. Using US input-output tables for years 1958,...

"Using data from both the Survey of Consumer Finances (SCF) and the Panel Study of Income Dynamics (PSID), we found that on average over the period from 1984 to 2007, about one fifth of American households at a given point of time received a wealth transfer and these accounted for about a...