Article ID Journal Published Year Pages File Type
956849 Journal of Economic Theory 2015 27 Pages PDF
Abstract
We study the wealth distribution in Bewley economies with idiosyncratic capital income risk. We show analytically that under rather general conditions on the stochastic structure of the economy, a unique ergodic distribution of wealth displays a fat tail.
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Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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The wealth distribution in Bewley economies with capital income risk
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