Entrepreneurial Capital , Inequality , and Asset Prices

@inproceedings{Tsiaras2018EntrepreneurialC,
  title={Entrepreneurial Capital , Inequality , and Asset Prices},
  author={Argyris Tsiaras},
  year={2018}
}
This paper investigates the contribution of entrepreneurship to increasing U.S. wealth inequality. Using data from the Survey of Consumer Finances (SCF), I document that, since 2000, the increase in the wealth shares of the top 0.1% and 1% groups of households is almost exclusively driven by entrepreneurs, identified empirically as private business owner-managers. Additional evidence from the SCF points to an increase in the average returns to entrepreneurial ventures as a likely driver of… CONTINUE READING

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