{"title":"0.0003%:美国极端财富的短期动态","authors":"Arsh Singh, Nirvikar Singh","doi":"10.1111/roiw.12660","DOIUrl":null,"url":null,"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.","PeriodicalId":47853,"journal":{"name":"Review of Income and Wealth","volume":null,"pages":null},"PeriodicalIF":1.9000,"publicationDate":"2023-09-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"THE 0.0003 PERCENT: SHORT‐RUN DYNAMICS OF EXTREME WEALTH IN AMERICA\",\"authors\":\"Arsh Singh, Nirvikar Singh\",\"doi\":\"10.1111/roiw.12660\",\"DOIUrl\":null,\"url\":null,\"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.\",\"PeriodicalId\":47853,\"journal\":{\"name\":\"Review of Income and Wealth\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":1.9000,\"publicationDate\":\"2023-09-29\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Review of Income and Wealth\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1111/roiw.12660\",\"RegionNum\":3,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Review of Income and Wealth","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1111/roiw.12660","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
THE 0.0003 PERCENT: SHORT‐RUN DYNAMICS OF EXTREME WEALTH IN AMERICA
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.
期刊介绍:
The major objective of the Review of Income and Wealth is to advance knowledge on the definition, measurement and interpretation of national income, wealth and distribution. Among the issues covered are: - national and social accounting - microdata analyses of issues related to income and wealth and its distribution - the integration of micro and macro systems of economic, financial, and social statistics - international and intertemporal comparisons of income, wealth, inequality, poverty, well-being, and productivity - related problems of measurement and methodology