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Income and Wealth Heterogeneity in the Macroeconomy

Author

Listed:
  • 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.
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Per Krusell & Anthony A. Smith & Jr., 1998. "Income and Wealth Heterogeneity in the Macroeconomy," Journal of Political Economy, University of Chicago Press, vol. 106(5), pages 867-896, October.
    • Handle: RePEc:ucp:jpolec:v:106:y:1998:i:5:p:867-896
    DOI: 10.1086/250034
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy

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    1. Recursive Macroeconomic Theory

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