The Ergodic Distribution of Wealth with Random Shocks

Christopher Bliss

Economics Papers from Economics Group, Nuffield College, University of Oxford

Abstract: A convergence model in which welath accumulation is sibject to i.i.d. random shocks is examined. The accumulation function shows what kt+1 - wealth at t+1 - would be given kt and with no shock. it has a positive slope, but its concavity or convexity is indeterminate. The focus is the ergodic distribution of welath. This distribution satisfies a Fredholm integral equation. The ergodic distribution can be characterized in some respects by direct analysis of the stochastic process governing wealth accumulation and by use of the Fredholm equation without solution.

Keywords: WEALTH; CONVERGENCE (search for similar items in EconPapers)
JEL-codes: D3 E1 (search for similar items in EconPapers)
Pages: 31 pages
Date: 1998
References: Add references at CitEc
Citations: View citations in EconPapers (1)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nuf:econwp:145

Access Statistics for this paper

More papers in Economics Papers from Economics Group, Nuffield College, University of Oxford Contact information at EDIRC.
Bibliographic data for series maintained by Maxine Collett ().