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Income and Wealth Heterogeneity in the Macroeconomy

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Author Info

  • Per Krusell
  • Anthony A. Smith
  • Jr.

Abstract

How do movements in the distribution of income and wealth affect the macroeconomy? We analyze this question theoretically, using numerical methods, in the context of a calibrated version of the stochastic growth model with partially uninsurable idiosyncratic risk and movements in aggregate productivity.

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Bibliographic Info

Article provided by University of Chicago Press in its journal Journal of Political Economy.

Volume (Year): 106 (1998)
Issue (Month): 5 (October)
Pages: 867-896

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Handle: RePEc:ucp:jpolec:v:106:y:1998:i:5:p:867-896

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  1. > Schools of Economic Thought, Epistemology of Economics > Economic Methodology > Dynamic Stochastic General Equilibrium
  2. > Macroeconomics > Economic Fluctuations > Real Business Cycle Theory
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