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The Economics of Cultural Transmission and the Dynamics of Preferences
It is shown that cultural transmission mechanisms have very different implications than evolutionary selection mechanisms with respect to the dynamics of the distribution of the traits in the population, and mechanisms which interact evolutionary selection and cultural transmission are studied.
Cultural Transmission, Marriage and the Evolution of Ethnic and Religious Traits
This paper presents an economic analysis of the intergenerational transmission of ethnic and religious traits through family socialization and marital segregation decisions. Frequency of intragroup
The Distribution of Wealth and Fiscal Policy in Economies with Finitely Lived Agents
We study the dynamics of the distribution of wealth in an overlapping generation economy with finitely lived agents and intergenerational transmission of wealth. Financial markets are incomplete,
Counterparty Risk Externality: Centralized Versus Over-the-Counter Markets
It is shown that in this setting, there is excess leverage, in that parties in OTC contracts take on short positions that lead to levels of default risk that are higher than Pareto-efficient ones.
Skewed Wealth Distributions: Theory and Empirics
Invariably, across a cross-section of countries and time periods, wealth distributions are skewed to the right displaying thick upper tails, that is, large and slowly declining top wealth shares. In
Wealth Distribution and Social Mobility in the Us: A Quantitative Approach
We quantitatively identify the factors that drive wealth dynamics in the United States and are consistent with its skewed cross-sectional distribution and with social mobility. We concentrate on