Pareto extrapolation: An analytical framework for studying tail inequality

We develop an analytical framework designed to solve and analyze heterogeneous-agent models that endogenously generate fat-tailed wealth distributions. We exploit the asymptotic linearity of policy functions and the analytical characterization of the Pareto exponent to augment the conventional solut...

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Veröffentlicht in:	Quantitative economics 2023, Vol.14 (1), p.201-233
Hauptverfasser:	Gouin-Bonenfant, Émilien, Akira Toda, Alexis
Format:	Artikel
Sprache:	eng
Schlagworte:	Algorithms Analysis Bewley-Huggett-Aiyagari model C63 Consumption D31 D58 Distribution (Economics) E21 Econometrics Equilibrium Extrapolation Growth models Households Income distribution Inequality Macroeconomics Numerical analysis Pareto exponent power law solution accuracy Wealth Wealth distribution Wealth tax
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