Using agent-based simulation methods we explore the interplay between income distribution, personal insolvency … social comparison effects, the insolvency regime decides on lower income households' incentives to expose themselves to … observed distribution of income and wealth, we model them by means of a Generalised Pareto Distribution. In the presence of …

Labour income follows a deterministic growth trend and fluctuates between two values. Interest rates are drawn …

In this paper, we develop and numerically solve a model of idiosyncratic labour income and idiosyncratic interest rates … to predict the evolution of a wealth distribution over time. Stochastic labour income follows a deterministic growth …