Income And Wealth Heterogeneity In The Macroeconomy

Income and wealth heterogeneity in the macroeconomy per krusell and j.

Income and wealth heterogeneity in the macroeconomy. However an extension that relies on a small amount of heterogeneity in thrift does succeed in replicating the key features of the wealth data. Journal of political economy 106 5. Income and wealth heterogeneity in the macroeconomy article krusell1998incomeaw title income and wealth heterogeneity in the macroeconomy author per krusell and anthony a. The goal of the present analysis is to extend the standard macro economic model to include substantial heterogeneity in income and wealth.

Pdf income and wealth heterogeneity in the macroeconomy semantic scholar how do movements in the distribution of income and wealth affect the macroeconomy. Smith journal journal of political economy year 1998 volume 106 pages 867 896. Income and wealth heterogeneity in the macroeconomic rcer working papers 399 university of rochester center for economic research rcer. Income and wealth heterogeneity in the macroeconomy.

University of rochester centre for economic poliq research and institute for international economic studies. We analyze this question using a calibrated version of the stochastic growth model with partially uninsurable idiosyncratic risk and movements in aggregate productivity.