Zoomers and Boomers: Asset Prices and Intergenerational Inequality

We construct a perpetual youth DSGE model with aggregate uncertainty in which there are dynamically complete markets and agents have Epstein-Zin preferences. We prove that, when endowments have a realistic hump-shaped age-profile, our model has three steady-state equilibria. One of these equilibria...

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Bibliographische Detailangaben

Veröffentlicht in:	NBER Working Paper Series 2022-09
Hauptverfasser:	Farmer, Roger, Farmer, Leland E
Format:	Artikel
Sprache:	eng
Schlagworte:	Approximation Asset Pricing Economic theory Economics Elasticity Equilibrium Expenditures Fiscal policy Inequality Interest rates International Finance and Macroeconomics Monetary Economics Prices Wealth distribution
Online-Zugang:	Volltext
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