Konferenzbeitrag
A General Equilibrium Model of Earnings, Income, and Wealth
We develop a general equilibrium model of earnings, income and wealth heterogeneity in continuous time. We extend existing analytical and numerical methods to solve the model. We calibrate the model to U.S. data and find that stochastic interest rates provide a mechanism to link earnings, income and wealth distributions. We use this connection to demonstrate that an increase in unemployment benefits leads to a rise in steady state wealth inequality measured by the Gini coefficient.
- Language
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Englisch
- Bibliographic citation
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Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2020: Gender Economics
- Classification
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Wirtschaft
Computable General Equilibrium Models
Personal Income, Wealth, and Their Distributions
Macroeconomics: Consumption; Saving; Wealth
- Subject
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Incomplete Markets
Fokker-Planck Equations
Wealth Distributions
Computable General Equilibrium Models
- Event
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Geistige Schöpfung
- (who)
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Glawion, Rene
Puche, Marc
Haller, Frédéric
- Event
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Veröffentlichung
- (who)
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ZBW - Leibniz Information Centre for Economics
- (where)
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Kiel, Hamburg
- (when)
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2020
- Handle
- Last update
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10.03.2025, 11:44 AM CET
Data provider
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Object type
- Konferenzbeitrag
Associated
- Glawion, Rene
- Puche, Marc
- Haller, Frédéric
- ZBW - Leibniz Information Centre for Economics
Time of origin
- 2020
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