Accounting for the U.S. Earnings and Wealth Inequality

Accounting for the U.S. Earnings and Wealth Inequality

We show that a theory of earnings and wealth inequality, based on the optimal choices of ex ante identical households that face uninsured idiosyncratic shocks to their endowments of efficiency labor units, accounts for the U.S. earnings and wealth inequality almost exactly.

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:The Journal of political economy 2003-08, Vol.111 (4), p.818-857
Hauptverfasser: Castaneda, Ana, Diaz-Gimenez, Javier, Jose-Victor Rios-Rull
Format: Artikel
Sprache:eng
Schlagworte:
Consumption
Earnings
Economic fluctuations
Economic modeling
Economic models
Economic policy
Economic theory
Efficiency
Endowment
Estate taxes
Family economics
Household economics
Households
Income inequality
Income taxes
Inequality
Labour
Macroeconomic modeling
Macroeconomics
Personal income
Political economy
Political science
Roles
Studies
Taxation
U.S.A
Wealth
Wealth distribution
Online-Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
Beschreibung
Zusammenfassung:We show that a theory of earnings and wealth inequality, based on the optimal choices of ex ante identical households that face uninsured idiosyncratic shocks to their endowments of efficiency labor units, accounts for the U.S. earnings and wealth inequality almost exactly.
ISSN:0022-3808
1537-534X
DOI:10.1086/375382