The wealth distribution in Bewley economies with capital income risk

DOI10.1016/J.JET.2015.07.013MaRDI QIDQ900439zbMATH OpenOpenAlexFDO

Authors Jess Benhabib, Alberto Bisin, Shenghao Zhu

Publication date 22 December 2015

Published in Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jet.2015.07.013

zbMATH Keywords

Bewley economiescapital income riskfat tailsPareto distributionwealth distribution

Mathematics Subject Classification ID

Special types of economic markets (including Cournot, Bertrand) (91B54)

Recommendations

• Risk-Bearing and the Theory of Income Distribution
• An impossibility theorem for wealth in heterogeneous-agent models with limited heterogeneity
• Economic interactions and the distribution of wealth
• The dynamics of Pareto distributed wealth in a small open economy
• The distribution of wealth and fiscal policy in economies with finitely lived agents

Cites work

• A Difficulty with the Optimum Quantity of Money
• A Model Explaining the Pareto Distribution of Wealth
• An income fluctuation problem
• Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis
• Fiscal Policy with Heterogeneous Agents and Incomplete Markets
• Heavy tail phenomenon and convergence to stable laws for iterated Lipschitz maps
• scientific article; zbMATH DE number 5178097 (Why is no real title available?)
• scientific article; zbMATH DE number 46153 (Why is no real title available?)
• scientific article; zbMATH DE number 2067989 (Why is no real title available?)
• Incomplete-market dynamics in a neoclassical production economy
• Markov chains and stochastic stability
• One-dimensional linear recursions with Markov-dependent coefficients
• Random difference equations and renewal theory for products of random matrices
• Random recurrence equations and ruin in a Markov-dependent stochastic economic environment
• Some results on An income fluctuation problem
• Stochastic stability in monotone economies
• Tail of the stationary solution of the stochastic equation \(Y_{n+1}=a_{n} Y_{n}+b_{n}\) with Markovian coefficients
• The distribution of wealth and fiscal policy in economies with finitely lived agents
• The distribution of wealth and the marginal propensity to consume
• The Forbes 400, the Pareto power-law and efficient markets
• The permanent income hypothesis: A theoretical formulation
• The risk-free rate in heterogeneous-agent incomplete-insurance economies
• The wealth distribution in Bewley economies with capital income risk
• The welfare cost of inflation under imperfect insurance
• WEALTH INEQUALITY: DATA AND MODELS
• When do borrowing constraints bind? Some new results on the income fluctuation problem

Cited in

(27)

• A note on ergodic distributions in two-agent economies
• The effect of interest rates on consumption in an income fluctuation problem
• Stochastic dominance and thick-tailed wealth distributions
• The housing cost disease
• On increasing risk, inequality and poverty measures: peacocks, lyrebirds and exotic options
• On the existence and uniqueness of stationary equilibrium in Bewley economies with production
• A theory of the saving rate of the rich
• Asymptotic linearity of consumption functions and computational efficiency
• Unbounded dynamic programming via the Q-transform
• The income fluctuation problem and the evolution of wealth
• Uniqueness of equilibrium in a Bewley-Aiyagari model
• Bequests, estate taxes, and wealth distributions
• A Becker-Tomes model with investment risk
• An impossibility theorem for wealth in heterogeneous-agent models with limited heterogeneity
• Risk-Bearing and the Theory of Income Distribution
• Incomplete market dynamics and cross-sectional distributions
• The dynamics of Pareto distributed wealth in a small open economy
• Tax progressivity and the Pareto tail of income distributions
• The investigation of a wealth distribution model on isolated discrete time domains
• Uneven growth: automation's impact on income and wealth inequality
• Decomposing the growth of top wealth shares
• Capital risk, fiscal policy, and the distribution of wealth
• Capital income jumps and wealth distribution
• Left and right: a tale of two tails of the wealth distribution
• Risk loving and fat tails in the wealth distribution
• To bequeath, or not to bequeath? On labour income risk and top wealth concentration
• The wealth distribution in Bewley economies with capital income risk

This page was built for publication: The wealth distribution in Bewley economies with capital income risk

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q900439)