We develop a general equilibrium model of earnings, income and wealth heterogeneity in continuous time. We extend … interest rates provide a mechanism to link earnings, income and wealth distributions. We use this connection to demonstrate …

distribution, in determining the long-term wealth distribution and the level of per capita income of an economy …

marital choices may be undergoing change. We expand the traditional dimension of assortative mating through labor income only …, covering both labor income and inheritance. This paper studies the concentration and substitutability of these two traits in … outcomes seen in France. By assuming a sequential revelation of inheritance and labor income in marital sorting, we develop a …

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 …

the income tax, assigning it a role as a redistributional backstop mechanism. However, when measured against annual income … income. We argue that instead of using yearly income, one should measure wealth tax burdens with respect to individual … lifetime income in family dynasties. Using rich Norwegian administrative data, we describe how a lifetime-dynastic income …

We characterize the distribution of permanent-income and quantify the value of assets and human capital in lifetime … state-dependent stochastic discounting and unobserved heterogeneity. The approach imposes no restrictions on income …% share of permanent-income was 1/3 lower than the corresponding share of assets; (ii) however, since 1989, the top 10% share …

human wealth. The latter mitigates permanent‐income inequality, though its influence is diminished by the growing importance …