Using a parsimonious, analytically tractable dynamic model, we are able to explain up to 100 years of the available data on the dynamics of top-wealth shares for several countries. We build a micro-founded model of heterogeneous agents in which - in addition to stochastic returns on investment -...

We apply the Atkinson (1970) inequality index to time series of asset returns to offer a novel measure of financial risk consistent with expected-utility theory. This measure is converted to a certainty-equivalent return serving as a performance measure. We extend the Atkinson index to HARA...

What determines inequality and mobility of wealth? This paper quantifies in closed form both the bottom and the top (Pareto) tail of the distribution for a rich continuous-time model. The distribution is especially shaped by bequest motives, demographics, and the asset portfolio composition...

Purpose – The purpose of this article is to illustrate the management policies behind the success of Swiss product‐manufacturing companies in international competition. Design/methodology/approach – The study included a few multinational corporations as well as a large number of “hidden...

Purpose – The purpose of this article is to illustrate the management policies behind the success of Swiss product‐manufacturing companies in international competition. Design/methodology/approach – The study included a few multinational corporations as well as a large number of “hidden...

Purpose – The purpose of this paper is to attempt to explore service needs in the Chinese manufacturing industry and address the research question: what clusters of service needs exist in the Chinese manufacturing industry? Design/methodology/approach – The data on service needs were...