The wealth distribution in Bewley economies with capital income risk

DOI10.1016/j.jet.2015.07.013zbMath1330.91132OpenAlexW2131922367MaRDI QIDQ900439

Shenghao Zhu, Jess Benhabib, Alberto Bisin

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

wealth distributionPareto distributionfat tailsBewley economiescapital income risk

Mathematics Subject Classification ID

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

Related Items (16)

The effect of interest rates on consumption in an income fluctuation problem ⋮ Unbounded dynamic programming via the Q-transform ⋮ Stochastic dominance and thick-tailed wealth distributions ⋮ The housing cost disease ⋮ On increasing risk, inequality and poverty measures: peacocks, lyrebirds and exotic options ⋮ The income fluctuation problem and the evolution of wealth ⋮ Uniqueness of equilibrium in a Bewley-Aiyagari model ⋮ An impossibility theorem for wealth in heterogeneous-agent models with limited heterogeneity ⋮ Tax progressivity and the Pareto tail of income distributions ⋮ On the existence and uniqueness of stationary equilibrium in Bewley economies with production ⋮ The wealth distribution in Bewley economies with capital income risk ⋮ Incomplete market dynamics and cross-sectional distributions ⋮ A theory of the saving rate of the rich ⋮ Asymptotic linearity of consumption functions and computational efficiency ⋮ Bequests, estate taxes, and wealth distributions ⋮ A Becker-Tomes model with investment risk

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