We study a directed search equilibrium with risk-averse workers who can on the job and accumulate non-contingent assets under borrowing limit. Search outcomes affect earnings wealth accumulation. In turn, decisions by changing optimal trade-off between wage matching probability. The interaction provides important self-insurance. calibrated model yields significant inequality as measured mean-mi...

January 2002 Abstract. A convergence model with wealth accumulation subject to i.i.d. random shocks is examined. The transfer function shows what kt+1 wealth at t + 1 would be, given kt, with no shock. It has a positive slope, but its concavity/convexity is indeterminate. The stationary distribution of wealth satis...es a Fredholm integral equation. This distribution can be examined by direct a...

Compared with nonpoor households, many poor households accumulate little wealth over their lifetimes. This rich-poor wealth gap may be due to different abilities to accumulate assets, possibly because the poor face a lifetime of lower incomes and higher income uncertainty. Alternatively, the wealth gap might be due to different responses to economic incentives to accumulate, such as transferpro...

Inequality in wealth has been well-documented, but its causes remain uncertain. Family processes in childhood are likely to shape adults' wealth accumulation, but these factors have attracted little attention. I argue that family size matters: children from larger families accumulate less wealth than do those from smaller families. Siblings dilute parents' finite financial resources and nonmate...

We estimate the effect of pension reforms on households’ expectations of retirement outcomes and wealth accumulation decisions exploiting a decade of pension reforms as a source of exogenous variation in expected pension wealth. Two parameters are crucial to estimate pension wealth: the age at which workers expect to retire and the expected ratio of pension benefits to pre-retirement income. Th...

■ Abstract Wealth ownership in the United States has long been concentrated in the hands of a small minority of the population, yet researchers have paid relatively little attention to the causes and consequences of this inequality. In this essay, we review the literature that does exist on wealth accumulation and distribution. We begin with an examination of the reasons that wealth inequality ...

Wealth sustainability has always remained a policy concern for policymakers in developing economies like Pakistan. This study filled the gap by investigating weak and determinants of wealth accumulation 46 years, from 1972 to 2017, been analyzed through Genuine Savings (GS) Index.Moreover, auto-regressive distributive lag (ARDL) model applied find out effects determining factors ̶ which include ...

We examine the unique nature of agency problems within publicly traded family firms by investigating the earnings management decision of dominant family owners relative to nonfamily. To do so, we draw upon literature demonstrating that family owners are loss averse with respect to the family’s socioemotional wealth (SEW), or the affective endowment derived from firm ownership and control. Our t...