Accounting for the U.S. Earnings and Wealth Inequality
We show that a theory of earnings and wealth inequality, based on the optimal choices of ex ante identical households that face uninsured idiosyncratic shocks to their endowments of efficiency labor units, accounts for the U.S. earnings and wealth inequality almost exactly.
Year of publication: |
2003
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Authors: | Castaneda, Ana ; Diaz-Gimenez, Javier ; Rios-Rull, Jose-Victor |
Published in: |
Journal of Political Economy. - University of Chicago Press. - Vol. 111.2003, 4, p. 818-857
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Publisher: |
University of Chicago Press |
Saved in:
Online Resource
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