The wealth distribution in Bewley economies with capital income risk
نویسندگان
چکیده
We study the wealth distribution in Bewley economies with idiosyncratic capital income risk. We show analytically that under rather general conditions on the stochastic structure of the economy, a unique ergodic distribution of wealth displays a fat tail. © 2015 Elsevier Inc. All rights reserved. JEL classification: E13; E21; E24
منابع مشابه
The Wealth Distribution in Bewley Models with Investment Risk
We study the wealth distribution in Bewley economies with idiosyncratic capital income risk. We show analytically that under rather general conditions on the stochastic structure of the economy, a unique ergodic distribution of wealth displays a fat tail; more precisely, a Pareto distribution in the right tail.
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ورودعنوان ژورنال:
- J. Economic Theory
دوره 159 شماره
صفحات -
تاریخ انتشار 2015