Income and wealth
نویسندگان
چکیده
منابع مشابه
Stochastic income and wealth
As is well known, the deterministic version of the maximum principle allows us to state rigorously the relationship between deterministic income (essentially the Hamiltonian) and deterministic wealth (essentially the state evaluation function). As a background motivating point of departure, consider the simple story of an infinitely long-lived individual whose sole wealth consists of a bank dep...
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The distributions of income and wealth in countries across the world are found to possess some robust and stable features independent of the specific economic, social and political conditions of the countries. We discuss a few physics-inspired multiagent dynamic models along with their microeconomic counterparts, that can produce the statistical features of the distributions observed in reality...
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Abstract An optimal pattern is expected to simplify complex phenomena on a small scale. The pattern of income distribution and wealth from the perspective of the Holy Quran to the systematic set of foundations and infrastructures (such as the true ownership of God (his will) on existence, the substitution of man and the trustworthiness of property in his hands); goals (spirituality, justice ...
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Amy Stubbendick for outstanding research assistance in the work reported here. Barry Johnson has long been an essential player in the work underlying this paper, and he provided essential data used in the analysis. The opinions expressed here are the responsibility of the author alone and do not necessarily reflect those of the Board of Governors of the Federal Reserve System. Most often, econo...
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We derive asset-pricing and portfolio-choice implications of a dynamic incomplete-markets model in which consumers are heterogeneous in several respects: labor income, asset wealth, and preferences. In contrast to earlier papers, we insist on at least roughly matching the model’s implications for heterogeneity—notably, the equilibrium distributions of income and wealth—with those in U.S. data. ...
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ژورنال
عنوان ژورنال: Social Trends
سال: 2011
ISSN: 2040-1620
DOI: 10.1057/st.2011.10