How important is discount rate heterogeneity for wealth inequality?

DOI10.1016/J.JEDC.2006.10.002MaRDI QIDQ1027408zbMATH OpenOpenAlexFDO

Authors Lutz Hendricks

Publication date 1 July 2009

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL https://www.cesifo.org/DocDL/cesifo1_wp1604.pdf

zbMATH Keywords

preference heterogeneitywealth inequality

Mathematics Subject Classification ID

Models of societies, social and urban evolution (91D10) Macroeconomic theory (monetary models, models of taxation) (91B64) Statistical methods; economic indices and measures (91B82)

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Cites work

• Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis
• Consumption Over the Life Cycle
• Wealth Inequality and Intergenerational Links

Cited in

(14)

• WEALTH INEQUALITY: DATA AND MODELS
• The distribution of wealth and the marginal propensity to consume
• Coexistence of money and interest-bearing bonds
• Heterogeneity and persistence in returns to wealth
• Subjective life expectancies, time preference heterogeneity, and wealth inequality
• Health, wealth, and informality over the life cycle
• Thomas Piketty and the rate of time preference
• The housing cost disease
• Inequality and catching-up under decreasing marginal impatience
• Wealth inequality in a low rate environment
• Instability and concentration in the distribution of wealth
• Heterogeneity of consumption responses to income shocks in the presence of nonlinear persistence
• Heterogeneous time preferences and the distribution of wealth
• Preference heterogeneity and optimal monetary policy

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