A general equilibrium model of earnings, income, and wealth

R. M. Glawion, F. E. Haller and M. Puche

We develop a general equilibrium model of earnings, income and wealth heterogeneity in continuous time. We extend existing analytical and numerical methods to solve the model. We calibrate the model to U.S. data and find that stochastic interest rates provide a mechanism to link earnings, income and wealth distributions. We use this connection to demonstrate that an increase in unemployment benefits leads to a rise in steady state wealth inequality measured by the Gini coefficient.

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Year of publication:	2020
Authors:	Glawion, René ; Haller, Frédéric ; Puche, Marc
Published in:	Jahrestagung 2020 ; 74
Publisher:	[Köln] : Verein für Socialpolitik
Subject:	Incomplete Markets \| Fokker-Planck Equations \| Wealth Distributions \| Computable General Equilibrium Models \| Theorie \| Theory \| Allgemeines Gleichgewicht \| General equilibrium \| Vermögensverteilung \| Wealth distribution \| Unvollkommener Markt \| Incomplete market \| Einkommensverteilung \| Income distribution \| CGE-Modell \| CGE model \| Einkommen \| Income

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Extent:	1 Online-Ressource (circa 35 Seiten) Illustrationen
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Konferenzbeitrag ; Conference paper ; Graue Literatur ; Non-commercial literature
Language:	English
Other identifiers:	hdl:10419/224580 [Handle]
Classification:	C68 - Computable General Equilibrium Models ; D31 - Personal Income, Wealth and Their Distributions ; E21 - Consumption; Saving
Source:	ECONIS - Online Catalogue of the ZBW

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