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The Importance of Entrepreneurship for Wealth Concentration and Mobility

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  • Quadrini, Vincenzo

Abstract

This paper conducts an empirical analysis of the importance of entrepreneurship for wealth concentration and mobility using data from the Panel Study of Income Dynamics. The data shows a marked concentration of wealth in the hands of entrepreneurs which is not merely a consequence of their higher incomes. The higher saving rates among entrepreneurs is one of the possible explanations for their higher asset holdings and this hypothesis is supported by the statistical tests conducted in the paper. The data also shows that entrepreneurs experience greater upward mobility in that they have a greater probability of moving to higher wealth classes, and this is not only a consequence of their higher incomes. Copyright 1999 by The International Association for Research in Income and Wealth.

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  • Quadrini, Vincenzo, 1999. "The Importance of Entrepreneurship for Wealth Concentration and Mobility," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 45(1), pages 1-19, March.
  • Handle: RePEc:bla:revinw:v:45:y:1999:i:1:p:1-19
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    1. Robert I. Lerman & Shlomo Yitzhaki, 1994. "Effect of Marginal Changes in Income Sources On U.S. Income Inequality," Public Finance Review, , vol. 22(4), pages 403-417, October.
    2. Lerman, Robert I. & Yitzhaki, Shlomo, 1989. "Improving the accuracy of estimates of Gini coefficients," Journal of Econometrics, Elsevier, pages 43-47.
    3. Lerman, Robert I. & Yitzhaki, Shlomo, 1984. "A note on the calculation and interpretation of the Gini index," Economics Letters, Elsevier, vol. 15(3-4), pages 363-368.
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