This paper explores the income and wealth effects through modeling heterogeneous households while studying the effects … as the Federal Reserve Board's Survey of Consumer Finances (SCF), to apply the EM algorithm to empirically study wealth … of 2008 and the Sars-CoV-2 pandemic, on wealth holders …

In this paper we study the extent to which the financial market has contributed to wealth disparities. To that end we … introduce a stochastic dynamic model of wealth accumulation with preferences, consumption and portfolio choice, which roughly … the end wealth distribution of first, investor-level characteristics (calibrated for each investor class), which directly …