This paper analyses the joint long-run evolution of wealth and income inequality. We show that top wealth and income shares were cointegrated over the past century in France and the US. We rationalise this finding using a two-agent version of the Solow growth model. In this framework, the...

This paper analyses the joint long-run evolution of wealth and income inequality. We show that top wealth and income shares were cointegrated over the past century in France and the US. We rationalise this finding using a two-agent version of the Solow growth model. In this framework, the...

Using the first wave of the Eurosystem Household Finance and Consumption Survey (HFCS), a large micro-level dataset on households' balance sheets in 15 euro area countries, this paper explores how households allocate their assets. We derive stylised facts on asset participation as well as levels...

Using the first wave of the Eurosystem Household Finance and Consumption Survey (HFCS), a large micro-level dataset on households' balance sheets in 15 euro area countries, this paper explores how households allocate their assets. We derive stylised facts on asset participation as well as levels...

The US Survey of Consumer Finances (SCF) and the Eurosystem's Household Finance and Consumption Survey (HFCS) provide evidence that wealth is heavily concentrated at the upper tail of the wealth distribution. A commonly cited number for the US is that 1 percent of the households hold 30 percent...

The US Survey of Consumer Finances (SCF) and the Eurosystem's Household Finance and Consumption Survey (HFCS) provide evidence that wealth is heavily concentrated at the upper tail of the wealth distribution. A commonly cited number for the US is that 1 percent of the households hold 30 percent...