讲座主题（会议名称）

Accounting for the determinants of wealth   concentration in the US

现场负责人

麦嘉聪

联系电话

65907371

举办时间

2019年11月28日 16:00-17:30

举办地点

中欧平台武东路校区206

活动参与人数规模

20

联络人及联系电话

刘益如

65907868

主讲人姓名、单位、职称/职务及简历（外籍人士同时注原文）

梁卓诚， 助理教授，国立台湾大学经济系

讲座内容摘要（会议议程）

What are   the fundamental determinants of the high level of wealth concentration in the   US? The recent literature has put forward a high concentration of labor   income, capital income risk and bequests as potential reasons. We use data on   the joint distribution of earnings, capital income and wealth to identify the   quantitative importance of each driving force and find that labor income   concentration is the most important source of wealth dispersion for almost   the entire distribution. Some heterogeneity in asset returns is required to   match the factor composition of top incomes. It mostly contributes to the fat   right tail of the wealth distribution and the share of the wealthiest 0.01%   of households. These findings reflect the high correlation between earnings   and wealth in the data, as well as the fact that earnings account for a large   part of income even at the top of the income distribution.

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