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Persistent heterogeneous returns and top end wealth inequality

Review of economic dynamics, v.26, 2017년, pp.301 - 326  

Cao, Dan (Georgetown University, United States) ,  Luo, Wenlan (Tsinghua University, China)

Abstract ▼ AI-Helper 아이콘AI-Helper

Abstract We document in US data that returns to wealth across households are significantly heterogeneous, and persistently so. Motivated by this observation, we build a tractable general equilibrium model where households face persistent idiosyncratic returns to study the US wealth distribution. We...

주제어

#Pareto wealth distribution   #Sufficient statistics   #r–g   #Heterogeneous returns   #Financial deregulation   #Corporate tax cuts  

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