Age, luck, and inheritance
By: Jess Benhabib, Shenghao Zhu.
Contributors: Zhu, Shenghao.; National Bureau of Economic Research.
Series: NBER working paper series -- working paper 14128; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 14128.
Publisher: National Bureau of Economic Research
Published: 2008
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "We present a mechanism to analytically generate a double Pareto distribution of wealth in a continuous time OLG model with optimizing agents who have bequest motives, are subject to stochastic returns on capital and have uncertain lifespans.  We disentangle, roughly, the contribution of inheritance, age and stochastic rates of capital return to wealth inequality, in particular to the Gini coefficient.  We investigate the role of the fiscal and redistributive policies for wealth inequality and social welfare"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 7/18/2008.

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