Wealth inequality is an important matter for economic theory and policy. Ongoing debates have been discussing recent … rise in wealth inequality in connection with recent development of active financial markets around the world. Existing … literature on wealth distribution connects the origins of wealth inequality with a variety of drivers. Our approach develops a …

Globalisation has a major impact on the levels and distribution of wealth. The financial markets are highly integrated … wealth over the past 25 years. Nonetheless, this has not led to an equally large increase in property income because the … decrease in rates of return seems to contradict claims that, due to an increase in both financial and inherited wealth, we are …

In this paper we study the extent to which the financial market has contributed to wealth disparities. To that end we … introduce a stochastic dynamic model of wealth accumulation with preferences, consumption and portfolio choice, which roughly … the end wealth distribution of first, investor-level characteristics (calibrated for each investor class), which directly …

We propose a dynamic theory of financial market concentration in settings where some investors trade strategically … because of price impact. The distribution of risk and wealth determines market power, and wealth evolves over time given …, generating concentration and volatility in the wealth distribution. Conversely, wealth concentration leads to inflated asset …