Accounting for the U.S. Earnings and Wealth Inequality

Ana Castaneda, Javier Díaz-Giménez () and José-Víctor Ríos-Rull ()

Journal of Political Economy, 2003, vol. 111, issue 4, pages 818-857

Abstract: 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.

Date: 2003
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