顶级财富份额和白手起家财富的快速动态:家族企业的角色是什么?

IF 8.1 1区经济学 Q1 ECONOMICS

American Economic Review-Insights Pub Date : 2022-12-01 DOI:10.1257/aeri.20210560

A. Atkeson, Magnus Irie

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引用次数: 2

摘要

我们得出了财富分配顶端不平等的快速动态与新创造财富的普遍性之间的分析联系。具体而言，在财富积累的随机增长模型的背景下，只有在创造新财富的速度很快的情况下，财富分布顶部的形状才会迅速变化。从数量上讲，少数家族决定以家族企业的形式承担大量特殊风险，这对于解释新财富的普遍性和最高财富不平等的动态至关重要。（JEL D22，D31，G32，L25）

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Rapid Dynamics of Top Wealth Shares and Self-Made Fortunes: What Is the Role of Family Firms?

We derive an analytical link between the fast dynamics of inequality at the top of the wealth distribution and the prevalence of newly created fortunes. Specifically, in the context of a random growth model of wealth accumulation, the shape of the top of the wealth distribution changes rapidly only if the pace with which new fortunes are created is fast. Quantitatively, the decision of a few families to bear a large amount of idiosyncratic risk in the form of family firms is crucial in accounting for both the prevalence of new fortunes and the dynamics of top wealth inequality. (JEL D22, D31, G32, L25)

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American Economic Review-Insights ECONOMICS-

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期刊介绍： The journal American Economic Review: Insights (AER: Insights) is a publication that caters to a wide audience interested in economics. It shares the same standards of quality and significance as the American Economic Review (AER) but focuses specifically on papers that offer important insights communicated concisely. AER: Insights releases four issues annually, covering a diverse range of topics in economics.