Work

Accounting for the U.S. Earnings and Wealth Inequality

Year: 2003

Type: article

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.

Source: Journal of Political Economy

DOI: 10.1086/375382

Authors: Ana Castañeda, Javier Díaz‐Giménez, José‐Víctor Ríos‐Rull

Institutions: BNP Paribas (France), Universidad Carlos III de Madrid, National Bureau of Economic Research, Centre for Economic Policy Research, University of Pennsylvania

Language: English

Topic: Income, Poverty, and Inequality

Subfield: Sociology and Political Science

Field: Social Sciences

Domain: Social Sciences

SDGs: Reduced inequalities, No poverty

Open Access status: green

Funders: National Science Foundation, University of Pennsylvania