Asset prices and wealth inequality in a simple model with idiosyncratic shocks

This paper analytically solves a heterogeneous agent model with idiosyncratic shocks to marginal utility of consumption and explores the effects of the borrowing constraint on the price of the asset, the composition of borrowers and lenders in the credit market, and wealth inequality. Results are derived in a stylized model and in a pedagogical fashion.

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Year of publication:	2017
Authors:	Salas, Sergio
Published in:	Estudios de Economía. - Santiago de Chile : Universidad de Chile, Departamento de Economía, ISSN 0718-5286. - Vol. 44.2017, 1, p. 105-119
Publisher:	Santiago de Chile : Universidad de Chile, Departamento de Economía
Subject:	Asset prices \| borrowing constraints \| wealth inequality \| heterogeneous agents

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Type of publication:	Article
Type of publication (narrower categories):	Article
Language:	English
Other identifiers:	106758370X [GVK] hdl:10419/194252 [Handle]
Classification:	E00 - Macroeconomics and Monetary Economics. General ; E44 - Financial Markets and the Macroeconomy ; G10 - General Financial Markets. General
Source:	EconStor

Persistent link: https://www.econbiz.de/10011985523