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consistent with several features of consumption data including (i) the substantial rise in within-cohort consumption inequality … (Deaton and Paxson 1994), (ii) the non-concave shape of the age-inequality profile (which the RIP model is not consistent with …
Persistent link: https://www.econbiz.de/10005412853
We use CEX repeated cross-section data on consumption and income, to evaluate the nature of increased income inequality … and aggregate components, and estimate the contribution of each component to total inequality. The model we use is a … that taking risk sharing into account is important for the model fit; that the increase in inequality in the 1980s was …
Persistent link: https://www.econbiz.de/10005126150
This paper studies competitive equilibria of a production economy with aggregate productivity shocks and with a continuum of consumers subject to borrowing constraints and individual labor endowment shocks. The dynamic economy is described in terms of sequences of aggregate distributions. The...
Persistent link: https://www.econbiz.de/10005561113
This paper analyses changes in the distribution of equivalised gross household income and income inequality in New … these factors on alternative summary measures of inequality over the period. We find that changes in household structure and … in the socio-demographic characteristics of households are the main factors contributing to the rise in inequality, while …
Persistent link: https://www.econbiz.de/10005077068
LISTE EINIGER WICHTIGER ABKÜRZUNGEN 4 ZUM GELEIT 6 EINFÜHRUNG UND PROBLEMAUFRISS - INTERNATIONALE SOZIALPOLITIK BEDEUTET FÖRDERUNG DER KONVERGENZ DER LEBENSBEDINGUNGEN 7 TEIL A: SOZIALRECHT UND SOZIALPOLITIK DER EU 14 1) ENTWICKLUNGSLINIEN UND GRUNDPRINZIPIEN DER EUROPÄISCHEN SOZIALPOLITIK...
Persistent link: https://www.econbiz.de/10005556821
(COMPUTABLE)GENERAL EQUILIBRIUM APPROACH, THAT IS A RENEW ATTENTION TO THE PROBLEM OF POVERTY , EMPLOYMENT AND INEQUALITY THAT EARLIER STRATEGIES …
Persistent link: https://www.econbiz.de/10005561515
In this paper we extend the results of recent studies on the existence of equilibrium in finite dimensional asset markets for both bounded and unbounded economies. We do not assume that the individual's preferences are complete or transitive. Our existence theorems for asset markets allow for...
Persistent link: https://www.econbiz.de/10005125612
Persistent link: https://www.econbiz.de/10005125623
In competitive economies with private firm ownership, incomplete markets, and firm shareholders changing over time, several firm objectives have been proposed. Some are useful to understand efficiency of equilibria, and others are explicitly consistent with majority shareholder control or...
Persistent link: https://www.econbiz.de/10005125633
A new measure of constrained efficiency for application in economies with incomplete markets is presented. This measure --- termed Allais- Malinvaud efficiency --- can be viewed as adjusting for market incompleteness not fully captured in previous work. It is shown that equilibrium allocations...
Persistent link: https://www.econbiz.de/10005125664