This paper reviews current information on wealth trends, with particular attention to the role
of household wealth in the stratification system. The first section considers the relevance of …

Fair Progress? Economic Mobility across Generations around the World focuses on an issue
that has gotten much attention in the developed world, but will present new data and …

This paper reviews four well-known theoretical models of private bequest behavior, notes
their differing implications for public policy, and discusses a way of empirically discriminating …

This paper evaluates the role of redistribution in the transmission mechanism of monetary
policy to consumption. Three channels affect aggregate spending when winners and losers …

We study the effect of wealth on labor supply using the randomized assignment of monetary
prizes in a large sample of Swedish lottery players. Winning a lottery prize modestly reduces …

We use an innovative survey tool to collect management practice data from 732 medium-
sized firms in the United States, France, Germany, and the United Kingdom. These …

Does owner management necessarily eliminate the agency costs of ownership? Drawing on
agency literature and on the economic theory of the household, we argue that private …

This paper uses a unique dataset from Denmark to investigate the impact of family
characteristics in corporate decision making and the consequences of these decisions on …

Greater managerial ownership in family firms need not mitigate agency problems, especially
when each family controls a group of publicly traded and private firms, as is the case in most …

I use data from chief executive officer (CEO) successions to examine the impact of inherited
control on firms' performance. I find that firms where incoming CEOs are related to the …