Institute for Research on Poverty Discussion Papers
نویسنده
چکیده
Lifetime income is a widely used concept in both positive and normative analysis. The definition of this concept is examined in the context of income uncertainty, capital market imperfections, and uncertainty about length of life. Two alternative, comprehensive definitions are provided and discussed. The implications for the distribution of economic well-being of various age-income profiles and differential mortality are examined'using a variety of assumptions about capital and insurance markets. ! The Definition of Lifetime Income
منابع مشابه
IZA Discussion Paper No. 259
This Discussion Paper is issued within the framework of IZA's research area /DERUU0DUNHWVVLQQ 7UDQVLWLRQAny opinions expressed here are those of the author(s) and not those of the institute. Research disseminated by IZA may include views on policy, but the institute itself takes no institutional policy positions. The Institute for the Study of Labor (IZA) in Bonn is a local and virtual internat...
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