Differences in individual wealth holdings are widely viewed as a driving force of economic inequality. However, as this finding relies on crosssection data, we may confuse older with wealthier. We propose a new method to adjust for age effects in cross-sections, which eliminates transitory wealth inequality due to age, yet preserves inequality arising from other factors. This new method is supe...

This paper investigates the effect of private pensions on the retirement wealth distribution. We incorporate stochastic private pension coverage into a calibrated life-cycle model with stochastic earnings. Private pensions lead to higher net worth inequality at retirement, which is closer to the inequality observed in the PSID than a model without private pensions. However, the offset effect of...

This paper examines the relationship between the cross-sectional and lifetime income distributions using a simple model of relative income mobility. It asks whether cross-sectional comparisons between countries can provide a good indication of lifetime inequality differences if income mobility is similar, and whether lifetime inequality increases by less than cross-sectional inequality if the l...

We analyze the pricing of a productive asset in a class of dynamic exchange economies with heterogeneous, infinitely–lived agents, and self–enforcing intertemporal trades. Individual incomes fluctuate and are correlated; preferences, dividends and aggregate income are fixed. Almost all economies in this class have a unique stationary Markovian equilibrium with fluctuations in asset prices. As t...

We model virtue as an asset on the marriage market: since men value virginity in prospective mates, preserving their virtue increases girls’ chances of getting a "good" husband, and therefore allows for upward social mobility. Consistent with some historical and anthropological evidence, we find that the diffusion (and the social value) of virginity, across societies and over time, can be deter...

Abstract A new quasi-isodynamic stellarator configuration optimized for the confinement of energetic ions at low plasma ? is obtained. The numerical optimization carried out using STELLOPT suite codes. New proxies to measure closeness quasi-isodynamicity and quality fast ion have been included. has poloidally closed contours magnetic field strength, shear a rotational transform profile allowing...

We document a decline in the frequency of shopping trips United States since 1980 and consider its implications for measurement consumption inequality. A as households stock up on storable goods (i.e., inventory behavior) will lead to rise expenditure inequality when latter is measured at high frequency, even underlying unchanged. find that most recently documented 1980s can be accounted by thi...

This paper quantifies the contribution of technology gaps to international income inequality. I develop an endogenous growth model where cross-country differences in R&D efficiency and cross-industry innovation adoption opportunities together determine equilibrium gaps, trade patterns, Countries with higher are richer have comparative advantage more innovation-dependent industries. calibrat...

Earnings are riskier and more unequal for households born in the 1960s 1980s than those 1940s. Despite improvements financial conditions, younger generations less likely to be living their own homes older at same age. By using a life-cycle model with housing portfolio choice that includes flexible earnings risk aggregate asset price risk, I show changes dynamics account large part of reduction ...

Williams, Justin A. Ph.D., Purdue University, December 2013. Biophysical Studies of Cholesterol in Unsaturated Phospholipid Model Membranes. Major Professor: Stephen R. Wassall. Cellular membranes contain a staggering diversity of lipids. The lipids are heterogeneously distributed to create regions, or domains, whose physical properties differ from the bulk membrane and play an essential role i...