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Persistent link: https://www.econbiz.de/10013174948
We develop a general equilibrium model of earnings, income and wealth heterogeneity in continuous time. We extend existing analytical and numerical methods to solve the model. We calibrate the model to U.S. data and find that stochastic interest rates provide a mechanism to link earnings, income...
Persistent link: https://www.econbiz.de/10012426925