The Ergodic Distribution of Wealth with Random Shocks
AbstractA convergence model in which welath accumulation is sibject to i.i.d. random shocks is examined. The accumulation function shows what kt+1 - wealth at t+1 - would be given kt and with no shock. it has a positive slope, but its concavity or convexity is indeterminate. The focus is the ergodic distribution of welath. This distribution satisfies a Fredholm integral equation. The ergodic distribution can be characterized in some respects by direct analysis of the stochastic process governing wealth accumulation and by use of the Fredholm equation without solution.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by Economics Group, Nuffield College, University of Oxford in its series Economics Papers with number 145.
Length: 31 pages
Date of creation: 1998
Date of revision:
Contact details of provider:
Web page: http://www.nuff.ox.ac.uk/economics/
WEALTH ; CONVERGENCE;
Find related papers by JEL classification:
- D3 - Microeconomics - - Distribution
- E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Muro, Kazunobu, 2007. "Individual preferences and the effect of uncertainty on irreversible investment," Research in Economics, Elsevier, vol. 61(4), pages 191-207, December.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Maxine Collett).
If references are entirely missing, you can add them using this form.