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what extent is existing income inequality due to circumstances, as opposed to 'effort'? Our results suggest that several … circumstances, importantly both parental income and own IQ, are important for long-run income inequality, but that variations in … individual effort account for the most part of that inequality. …
Persistent link: https://www.econbiz.de/10010274702
what extent is existing income inequality due to circumstances, as opposed to 'effort'? Our results suggest that several … circumstances, importantly both parental income and own IQ, are important for long-run income inequality, but that variations in … individual effort account for the most part of that inequality. …
Persistent link: https://www.econbiz.de/10008836680
utility function whose arguments are consumption and investment. They desire to accumulate wealth for its own sake - this is …We calibrate a sequence of four nested models to study the dynamics of wealth accumulation. Individuals maximize a …
Persistent link: https://www.econbiz.de/10010515458
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We study how rich shareholders can use their economic power to deregulate firms that they own, thus skewing the income distribution towards themselves. Agents differ in productivity and choose how much labor to supply. High productivity agents also own shares in the productive sector and thus...
Persistent link: https://www.econbiz.de/10013315687
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about inequality in the U.S. tax system. …
Persistent link: https://www.econbiz.de/10010842143
about inequality in the U.S. tax system. …
Persistent link: https://www.econbiz.de/10011204400