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Accounting for the U.S. Earnings and Wealth Inequality

Listed author(s):
  • Ana Castaneda
  • Javier Diaz-Gimenez
  • Jose-Victor Rios-Rull

We show that a theory of earnings and wealth inequality, based on the optimal choices of ex ante identical households that face uninsured idiosyncratic shocks to their endowments of efficiency labor units, accounts for the U.S. earnings and wealth inequality almost exactly.

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File URL: http://dx.doi.org/10.1086/375382
File Function: main text
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Article provided by University of Chicago Press in its journal Journal of Political Economy.

Volume (Year): 111 (2003)
Issue (Month): 4 (August)
Pages: 818-857

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Handle: RePEc:ucp:jpolec:v:111:y:2003:i:4:p:818-857
Contact details of provider: Web page: http://www.journals.uchicago.edu/JPE/

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  1. Gouveia, Miguel & Strauss, Robert P., 1994. "Effective Federal Individual Tax Functions: An Exploratory Empirical Analysis," National Tax Journal, National Tax Association, vol. 47(2), pages 317-339, June.
  2. Juster, F Thomas & Stafford, Frank P, 1991. "The Allocation of Time: Empirical Findings, Behavioral Models, and Problems of Measurement," Journal of Economic Literature, American Economic Association, vol. 29(2), pages 471-522, June.
  3. Aaron, Henry J. & Munnell, Alicia H., 1992. "Reassessing the Role for Wealth Transfer Taxes," National Tax Journal, National Tax Association, vol. 45(2), pages 119-143, June.
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