On the stationary distribution of income and wealth in a growing economy with endogenous labor supply

Kazuo Mino ()
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Kazuo Mino: Institute of Economic Research, Kyoto University

Economics Bulletin, 2023, vol. 43, issue 1, 108 - 115

Abstract: In the context of a perpetual youth model with capital, we explore the effect of the labor supply behavior of households on the stationary distributions of income and wealth. Assuming that the households have Greenwood--Hercowitz--Huffman preferences, we show that inequality in income and wealth distributions increase with the elasticity of labor supply.

Keywords: capital accumulation; endogenous labor supply; wealth inequity; Pareto distribution (search for similar items in EconPapers)
JEL-codes: E2 O4 (search for similar items in EconPapers)
Date: 2023-03-30
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