Wealth distribution in life-cycle economies Export

@article{citeulike:173062, abstract = {This paper compares the age-wealth distribution produced in life-cycle economies to the corresponding distribution in the US economy. The idea is to calibrate the model economies to match features of the US earnings distribution and then examine the wealth distribution implications of the model economies. The findings are that the calibrated model economies with earnings and lifetime uncertainty can replicate measures of both aggregate wealth and transfer wealth in the US. Furthermore, the model economies produce the US wealth Gini and a significant fraction of the wealth inequality within age groups. However, the model economies produce less than half the fraction of wealth held by the top 1 percent of US households.}, author = {Huggett, Mark}, citeulike-article-id = {173062}, citeulike-linkout-0 = {http://dx.doi.org/10.1016/S0304-3932(96)01291-3}, citeulike-linkout-1 = {http://www.sciencedirect.com/science/article/B6VBW-3VV04X7-2/2/1eec12fe3be2ccdb049e446c67fb5709}, doi = {10.1016/S0304-3932(96)01291-3}, journal = {Journal of Monetary Economics}, keywords = {aarineq}, month = {December}, number = {3}, pages = {469--494}, posted-at = {2005-04-27 23:47:19}, priority = {2}, title = {Wealth distribution in life-cycle economies}, url = {http://dx.doi.org/10.1016/S0304-3932(96)01291-3}, volume = {38}, year = {1996} }

TY - JOUR ID - citeulike:173062 L3 - citeulike-article-id:173062 N2 - This paper compares the age-wealth distribution produced in life-cycle economies to the corresponding distribution in the US economy. The idea is to calibrate the model economies to match features of the US earnings distribution and then examine the wealth distribution implications of the model economies. The findings are that the calibrated model economies with earnings and lifetime uncertainty can replicate measures of both aggregate wealth and transfer wealth in the US. Furthermore, the model economies produce the US wealth Gini and a significant fraction of the wealth inequality within age groups. However, the model economies produce less than half the fraction of wealth held by the top 1 percent of US households. IS - 3 JF - Journal of Monetary Economics EP - 494 TI - Wealth distribution in life-cycle economies VL - 38 SP - 469 KW - aarineq AU - Huggett, Mark PY - 1996/12// UR - http://dx.doi.org/10.1016/S0304-3932(96)01291-3 ER -