The distribution of wealth in the blanchard-yaari model

Jess Benhabib; Alberto Bisin; Shenghao Zhu

doi:10.1017/S1365100514000066

The distribution of wealth in the blanchard-yaari model

Jess Benhabib, Alberto Bisin, Shenghao Zhu

Research output: Contribution to journal › Article › peer-review

Abstract

We study the dynamics of the distribution of wealth in an economy with infinitely lived agents, intergenerational transmission of wealth, and redistributive fiscal policy. We show that wealth accumulation with idiosyncratic investment risk and uncertain lifetimes can generate a double Pareto wealth distribution.

Original language	English (US)
Pages (from-to)	466-481
Number of pages	16
Journal	Macroeconomic Dynamics
Volume	20
Issue number	2
DOIs	https://doi.org/10.1017/S1365100514000066
State	Published - Apr 10 2014

Keywords

Fat Tails
Rate of Return Risk
Wealth Distribution

ASJC Scopus subject areas

Economics and Econometrics

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10.1017/S1365100514000066

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The distribution of wealth in the blanchard-yaari model

Abstract

Keywords

ASJC Scopus subject areas

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