Artikel

Asset prices and wealth inequality in a simple model with idiosyncratic shocks

This paper analytically solves a heterogeneous agent model with idiosyncratic shocks to marginal utility of consumption and explores the effects of the borrowing constraint on the price of the asset, the composition of borrowers and lenders in the credit market, and wealth inequality. Results are derived in a stylized model and in a pedagogical fashion.

Language: Englisch

Bibliographic citation: Journal: Estudios de Economía ; ISSN: 0718-5286 ; Volume: 44 ; Year: 2017 ; Issue: 1 ; Pages: 105-119 ; Santiago de Chile: Universidad de Chile, Departamento de Economía

Classification: Wirtschaft
Macroeconomics and Monetary Economics: General
Financial Markets and the Macroeconomy
General Financial Markets: General (includes Measurement and Data)

Subject: Asset prices
borrowing constraints
wealth inequality
heterogeneous agents

Event: Geistige Schöpfung

(who): Salas, Sergio

Event: Veröffentlichung

(who): Universidad de Chile, Departamento de Economía

(where): Santiago de Chile

(when): 2017

Handle: http://hdl.handle.net/10419/194252

Last update: 10.03.2025, 11:44 AM CET

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Salas, Sergio
Universidad de Chile, Departamento de Economía

Time of origin

2017

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Asset prices and wealth inequality in a simple model with idiosyncratic shocks

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