THE 0.0003 PERCENT: SHORT‐RUN DYNAMICS OF EXTREME WEALTH IN AMERICA

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2023-09-29 DOI:10.1111/roiw.12660

Arsh Singh, Nirvikar Singh

引用次数: 0

Abstract

This paper examines short‐run dynamics and changing sources of wealth among the Forbes 400 annual list of wealthiest individuals in the United States, before and after the 2008–2009 financial crisis. We analyze the interaction of growth of wealth with education, age, and being self‐made versus inheriting wealth. We find evidence of conditional convergence of wealth within the group. The wealth of the self‐made grew faster than their counterparts, though less so after the crisis. Those with advanced degrees had higher pre‐crisis growth of wealth than those without such degrees. Controlling for these characteristics, age was not a factor in wealth accumulation. Mobility in and out of the group was higher pre‐crisis.

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0.0003%:美国极端财富的短期动态

本文考察了2008-2009年金融危机前后美国福布斯400富豪榜的短期动态和财富来源的变化。我们分析了财富增长与教育、年龄、白手起家与继承财富之间的相互作用。我们发现了群体内财富有条件收敛的证据。白手起家者的财富增长速度比他们的同行要快，尽管在危机之后增速有所放缓。那些拥有高等学位的人在危机前的财富增长高于那些没有高等学位的人。控制了这些特征，年龄就不是财富积累的一个因素。危机前，集团内外的流动性更高。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.