We study the model of interacting agents proposed by Chatterjee (2003) that allows agents to both save and exchange wealth. Closed equations for the wealth distribution are developed using a mean field approximation. We show that when all agents have the same fixed savings propensity, subject to certain well defined approximations defined in the text, these equations yield the conjecture propos...

We examine the dynamics of wealth accumulation distribution in Italy using data drawn from the Survey of Household Income and Wealth, a representative survey of the Italian population conducted by the Bank of Italy. We compare survey data with national accounts data and discuss sample representativeness, attrition, and measurement issues. We then look at wealth inequality (the cross-sectional d...

With new nationwide longitudinal survey data now available from the China Family Panel Studies (CFPS), we study the level, distribution, and composition of household wealth in contemporary China. We find that the wealth Gini coefficient of China was 0.73 in 2012. The richest 1 percent owned more than one-third of the total national household wealth, while the poorest 25 percent owned less than ...