Heterogeneity in capital and skills in a
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Lilia Maliar; Serguei Maliar
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Article
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2001
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Elsevier Science
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English
β 214 KB
Does a heterogeneous agents version of a neoclassical model with labor}leisure choice replicate the distributions of consumption and working hours observed in the crosssectional data? Does incorporating heterogeneity enhance the aggregate performance of the representative agent model? We address the