whether or not these risks have increased since the 1970s. An important difficulty stems from the fact that inequality often … disentangle. I also discuss applications of incomplete markets models to trends in wealth, consumption, and earnings inequality …

participation. I show that this large wealth inequality is also important for the model's ability to generate a countercyclical …

Piketty's book, Capital in the Twenty-First Century, discusses several factors affecting wealth inequality: rates of … inheritances. This paper studies the role of various forces affecting savings in quantitative models of wealth inequality …

The past forty years have seen a rapid rise in top income inequality in the United States. While there is a large … of these address the fast rise in top inequality observed in the data. We show that standard theories, which build on a … in top income inequality is driven by the rise of "superstar" entrepreneurs or managers …

increase in both the wealth income ratio and wealth inequality. One model focuses on certain locations as being positional good … higher incomes and less inequality …--but hurts holders of government bonds, disproportionately life-cycle savers, and thus increases inequality. Similarly, a …

distributed to workers, their income and life cycle savings are increased. On both accounts, wealth inequality is reduced. Thus …, consistent with Henry George's views, a tax on the returns on land, including capital gains, reduces inequality with no adverse …

Among the key results are: (i) The magnitude of wealth inequality does not, in general depend on the difference between … not lead to lower levels of inequality. (iii) If the capital tax is progressive and/or the proceeds go to public … investment, wealth inequality may be reduced the well-being of workers may be increased …

inequality …

neighborhoods, schools and households (spouses), can have important consequences for the acquisition of human capital and inequality …