Wealth Accumulation and Factors Accounting for Success

Robert M. Townsend and Anan Pawasutipaisit. Journal of Econometrics. 161(1), March 2011: 56-81.

Townsend and Pawasutipaisit use detailed income, balance sheet, and cash flow statements constructed for households in a long monthly panel in an emerging market economy, as well as contributions in economic theory, to document and better understand the factors underlying success in achieving upward mobility in the distribution of net worth. LINK