The Wealth Distribution in Bewley Models with Investment Risk

Shenghao Zhu (), Alberto Bisin and Jess Benhabib

No 617, 2014 Meeting Papers from Society for Economic Dynamics

Abstract: We study the wealth distribution in Bewley economies with idiosyncratic capital income risk (entrepreneurial risk). We find, under rather general conditions, a unique ergodic distribution of wealth which displays fat tails (a Pareto distribution in the right tail).

Date: 2014
New Economics Papers: this item is included in nep-dge and nep-sea
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Citations: View citations in EconPapers (6)

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Working Paper: The Wealth Distribution in Bewley Models with Investment Risk (2014)
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