The distribution of wealth: Intergenerational transmission and redistributive policies
نویسندگان
چکیده
We study the dynamics of the distribution of wealth in an economy with intergenerational transmission of wealth and redistributive scal policy. We characterize the transitional dynamics of the distribution of wealth as well as its stationary state. We show that the stationary wealth distribution is a Pareto distribution.We We gratefully acknowledge conversations with Marco Bassetto, Alberto Bressan, Gianluca Clementi, Isabel Correia, Mariacristina De Nardi, Raquel Fernandez, Xavier Gabaix, Leslie Greengard, Frank Hoppensteadt, Boyan Jovanovic, Nobu Kiyotaki, John Leahy, Omar Licandro, Chris Phelan, Hamid Sabourian, Tom Sargent, Pedro Teles,Viktor Tsyrennikov, Gianluca Violante, Ivan Werning, and Ed Wol¤. Thanks to Nicola Scalzo and Eleonora Patacchini for help with impossibleItalian references. We also gratefully acknowledge Viktor Tsyrennikovs expert research assistance. This paper is part of the Polarization and Conict Project CIT-2-CT-2004-506084 funded by the European Commission-DG Research Sixth Framework Programme.
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تاریخ انتشار 2007