Stochastic Earnings Growth and Equilibrium Wealth Distributions
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The cross-section distribution of U.S. wealth is more skewed than the distribution of labor earnings. Stachurski and Toda (2019) explain how plain vanilla Bewley-Aiyagari-Huggett (BAH) models with infinitely lived agents can't generate that pattern because an equilibrium risk-free rate is lower than
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美国国家经济研究局创建时间：
2021-03-01
