SEARCH AND THE SOURCES OF LIFE-CYCLE INEQUALITY

I study how initial wealth affects lifetime earnings inequality when labor markets are frictional. To do this, I construct a model life-cycle model with search frictions, incomplete markets, and endogenous human capital accumulation. In the model, incomplete markets prevent low-wealth workers from s...

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Veröffentlicht in:	International economic review (Philadelphia) 2021-11, Vol.62 (4), p.1321-1362
1. Verfasser:	Griffy, Benjamin S.
Format:	Artikel
Sprache:	eng
Schlagworte:	Accumulation Capital formation Earnings Economic theory Endogenous Human capital Inequality Low pay Markets Unemployed people Wealth
Online-Zugang:	Volltext
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