SAVINGS, INTERGENERATIONAL TRANSFERS, AND THE DISTRIBUTION OF WEALTH

Autor:	Ignacio Ponce Ocampo, Kazuhiro Yuki
Rok vydání:	2006
Předmět:	jel:D91 Economics and Econometrics Earnings Distribution of wealth jel:E21 jel:D31 Overlapping generations model Microeconomics Capital accumulation Annuity (American) Economics Econometrics Wealth distribution Savings Intergenerational Transfers Wealth Distribution
Zdroj:	Macroeconomic Dynamics. 10:371-414
ISSN:	1469-8056 1365-1005
DOI:	10.1017/s1365100506050206
Popis:	This paper investigates the quantitative importance of different savings motives on the distributions of wealth and consumption and aggregate capital accumulation by solving an overlapping generations model with intragenerational heterogeneity. Agents differ in age, ability, earnings shocks, and inherited bequests. In the baseline economy, there are uninsurable idiosyncratic risks associated with uncertain lifetime and earnings shocks. The model is calibrated to the U.S. economy and solved numerically. Then the allocations of the baseline economy are compared with those of an economy with complete annuity markets, one without earnings uncertainty, and one without altruism.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::8f414ef47f354e9dad6d10973da249b8 https://doi.org/10.1017/s1365100506050206 Zobrazit plný text záznamu