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Cited by 284

The DOI matches its Crossref record; 32 of the 32 references it cites were found in a registry or an index.

Rich Pickings? Risk, Return, and Skill in Household Wealth

Bach, Laurent, Calvet, Laurent E., Sodini, Paolo·2020·American Economic Review
DOI 10.1257/aer.20170666
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Abstract

We investigate wealth returns on an administrative panel containing the disaggregated balance sheets of Swedish residents. The expected return on household net wealth is strongly persistent, determined primarily by systematic risk, and increasing in net worth, exceeding the risk-free rate by the size of the equity premium for households in the top 0.01 percent. Idiosyncratic risk is transitory but generates substantial long-term dispersion in returns in top brackets. Systematic and idiosyncratic risk both drive the cross-sectional distribution of the geometric average return over a generation. Furthermore, wealth returns explain most of the historical increase in top wealth shares. (JEL D31, G11, G51)

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Metadata

Authors
Bach, L., Calvet, L. E., & Sodini, P.
Venue
American Economic Review
Publisher
American Economic Association
Published
2020-09-01
Volume
110
Issue
9
Pages
2703-2747
ISSN
0002-8282 (ISSN-L)
DOI
10.1257/aer.20170666
OpenAlex
W3083873527
Cited by
284
References
32
FWCI
50.24
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Rich Pickings? Risk, Return, and Skill in Household Wealth. https://app.cochat.ai/papers/10.1257/aer.20170666
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Bach, L., Calvet, L. E., & Sodini, P. (2020). Rich Pickings? Risk, Return, and Skill in Household Wealth. American Economic Review. https://doi.org/10.1257/aer.20170666

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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.