In this paper, we account for forest wealth in India. Changes in the timber and carbon wealth embodied in these forests are related to important green national accounting aggregates such as genuine saving and the change in wealth per capita. Important accounting issues include the timing of carbon releases, which occur when forests are disturbed, as well as the valuation of these releases. Our ...

Two wealth effects typically arise in any contest: i) wealth decreases the marginal cost of effort, but also ii) decreases the marginal benefit of winning the contest. In this paper, we introduce three types of strategic contest models depending on whether the first, second, or both wealth effects play a role: namely, a privilege contest, an ability contest, and a rent-seeking contest. Our theo...

Events of recent years have revived interest in whether wealth effects exist in consumption. Recent studies have obtained contrasting results on wealth effects. Findings and procedures across studies can be categorized as falling in to the "Endogenous Consumption" and "Endogenous Wealth" groups. This paper examines the long-run and short-run dynamic relationship between aggregate consumption, r...

Recent work in experimental economics has raised that observed behavior depends on whether wealth was windfall or earned. This paper extends this work by considering whether earned wealth a ects bidding behavior in an induced-value second-price auction. We nd people bid more sincerely in the auction with earned wealth given monetary incentives; earned wealth did not induce sincere bidding in hy...

We show that wealth inequality can be either good or bad for the level of entrepreneurship in an economy, depending on how diminishing returns to capital interact with borrowing constraints at the micro level. Non-parametric methods are used to study wealth effects on business start-ups amongst return migrants in Tunisia. Controls for heterogeneity are included, with specification tests for non...

Prior research on trends in educational inequality has focused chiefly on changing gaps in educational attainment by family income or parental occupation. In contrast, this contribution provides the first assessment of trends in educational attainment by family wealth and suggests that we should be at least as concerned about growing wealth gaps in education. Despite overall growth in education...

This paper deals with the problem of measuring household wealth from domestic artifactual remains. After an archaeologically useful definition and classitication of wealth is presented, quantitative anthropological, sociological, and historical analyses demonstrating a strong association between household possessions and wealth are reviewed. Then, ethnographic and historical data on different f...

This paper describes a new panel dataset of financial wealth for U.S. states constructed from anonymous proprietary account-level records on geographic wealth holdings. The new data set is more comprehensive and representative than existing alternative measures. The paper also constructs significantly improved state-level consumption data, then combines these datasets to provide new estimates o...

The extent of entrepreneurial activity in an economy with poorly developed capital markets depends on the distribution of wealth, though in potentially complex ways. A nonparametric model of the wealth effect on self-employment is estimated using micro data on the occupational choices of return migrants in Tunisia. Controls for heterogeneity are included, and tests are made for selection bias a...

Housing and pension wealth are shown to be important determinants of personal sector consumption and retirement behaviour in the UK. Housing and state pension wealth have a positive effect on consumption, while private pension wealth promotes greater savings. Greater private defined benefit pension wealth encourages earlier retirement, while greater defined contribution pension wealth has the e...