Age, luck, and inheritance
by Jess Benhabib
"We present a mechanism to analytically generate a double Pareto distribution of wealth in a continuous time OLG model with optimizing agents who have bequest motives, are subject to stochastic returns on capital and have uncertain lifespans. We disentangle, roughly, the contribution of inheritance, age and stochastic rates of capital return to wealth inequality, in particular to the Gini coefficient. We investigate the role of the fiscal and redistributive policies for wealth inequality and social welfare"--National Bureau of Economic Research web site.
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Age, luck, and inheritance
2008, National Bureau of Economic Research
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in English
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Title from PDF file as viewed on 7/18/2008.
Includes bibliographical references.
Also available in print.
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Mode of access: World Wide Web.
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| December 22, 2020 | Edited by MARC Bot | import existing book |
| December 10, 2009 | Created by WorkBot | add works page |