On the distribution of lifetime wealth accumulation

Hoang Khieu ()
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Hoang Khieu: Fulbright University Vietnam

Journal of Economics, 2024, vol. 143, issue 1, No 3, 87-100

Abstract: Abstract I derive a stationary distribution of lifetime wealth accumulation factor in a model featuring inheritance of productivity, wealth, and health condition, where lifetime wealth is the sum of financial wealth and human wealth. Assuming ex-ante heterogeneity in the death rate, I show that the distribution of the lifetime wealth accumulation factor is constituted by a weighted sum of shape-differing Pareto distributions. It is shown that raising the wealth tax reduces inequality of lifetime wealth not only within a death-rate type but also across all the death-rate types.

Keywords: Inherited wealth; Wealth inequality; Wealth accumulation factor; Wealth tax; Pareto tail; Lifetime wealth; Lifetime inequality; D3; E2; H2 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:kap:jeczfn:v:143:y:2024:i:1:d:10.1007_s00712-024-00867-w

DOI: 10.1007/s00712-024-00867-w

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