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Exploring the income distribution business cycle dynamics

✍ Scribed by Ana Castañeda; Javier Dı́az-Giménez; José-Victor Rı́os-Rull


Book ID
114220899
Publisher
Elsevier Science
Year
1998
Tongue
English
Weight
256 KB
Volume
42
Category
Article
ISSN
0304-3932

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## Abstract In this paper, we propose a model of income dynamics which takes account of mobility both within and between jobs. The model is a hybrid of the mover‐stayer model of income dynamics and a geometric random walk. In any period, individuals face a discrete probability of ‘moving’, in which