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Skewed Wealth Distributions: Theory and Empirics / Jess Benhabib, Alberto Bisin.
- Format:
- Book
- Author/Creator:
- Benhabib, Jess.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w21924.
- NBER working paper series no. w21924
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Skewed Wealth Distributions
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2016.
- Summary:
- Invariably across a cross-section of countries and time periods, wealth distributions are skewed to the right displaying thick upper tails, that is, large and slowly declining top wealth shares. In this survey we categorize the theoretical studies on the distribution of wealth in terms of the underlying economic mechanisms generating skewness and thick tails. Further, we show how these mechanisms can be micro-founded by the consumption-saving decisions of rational agents in specific economic and demographic environments. Finally we map the large empirical work on the wealth distribution to its theoretical underpinnings.
- Notes:
- Print version record
- January 2016.
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