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Statistical Equilibrium Wealth Distributions in an Exchange Economy with Stochastic Preferences

✍ Scribed by Jonathan Silver; Eric Slud; Keiji Takamoto


Book ID
118769034
Publisher
Elsevier Science
Year
2002
Tongue
English
Weight
216 KB
Volume
106
Category
Article
ISSN
0022-0531

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The paper investigates into the determinants of the personal distribution of income and wealth. In an overlapping generations model all individuals are assumed to be identical except for their inherited wealth. Since life time is random the bequest of an individual and thus the inherited stock of ca