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The Wealth Distribution in Bewley Models with Investment Risk / Jess Benhabib, Alberto Bisin, Shenghao Zhu.
- Format:
- Book
- Author/Creator:
- Benhabib, Jess.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w20157.
- NBER working paper series no. w20157
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2014.
- Summary:
- We study the wealth distribution in Bewley economies with idiosyncratic capital income risk. We show analytically that under rather general conditions on the stochastic structure of the economy, a unique ergodic distribution of wealth displays a fat tail; more precisely, a Pareto distribution in the right tail.
- Notes:
- Print version record
- May 2014.
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