Author:
Benhabib Jess,Bisin Alberto,Zhu Shenghao
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.
Publisher
Cambridge University Press (CUP)
Subject
Economics and Econometrics
Cited by
53 articles.
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