Wealth Inequality and Safe Asset Demand
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https://www.nber.org/papers/w35393
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资源简介：
We study how wealth inequality shapes safe-asset demand in heterogeneous-agent economies. Asset bubbles arise when agents face sufficiently high probabilities of falling into extreme poverty. In such cases, assets insulated from idiosyncratic risk become infinitely large relative to agents' wealth
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美国国家经济研究局创建时间：
2026-06-01
