✦ LIBER ✦

Macroeconomic Activity and Income Distribution in the Postwar United States

✍ Scribed by Alan S. Blinder and Howard Y. Esaki

Book ID: 118219296
Publisher: MIT Press
Year: 1978
Tongue: English
Weight: 231 KB
Volume: 60
Category: Article
ISSN: 0034-6535
DOI: 10.2307/1924254

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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